Comprehensive Problem. Determine the tax due, including the alternative minimum tax, for Patty Perkins, assuming she is
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Comprehensive Problem. Determine the tax due, including the alternative minimum tax, for Patty Perkins, assuming she is single using the following tax information:
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Adjusted Gross Income Itemized Deductions Alternative Minimum Tax Itemized Deductions Tax Preference Items General Business Credit $100,000 20,000 12,000 40,000 17,000
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To determine Patty Perkins tax liability including the alternative minimum tax AMT we need to calculate her regular tax liability and then compare it with her AMT liability Pattys tax situation is as ...View the full answer
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Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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