William and Maria Smith are a married couple filing jointly. They have no children and report the
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William and Maria Smith are a married couple filing jointly. They have no children and report the following items in 2017:
Taxable income ………………………………………………….................$70,000
Tax preferences ………………………………………………...................…20,000
AMT adjustments related to itemized deductions ………………15,000
Regular tax liability ………………………………………………...................9,568
a. What is the Smith’s AMT liability?
b. What would be William’s AMT liability if he were an unmarried taxpayer filing single with a regular tax liability of $13,239?
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a Taxable income 70000 PlusTax preference items 20000 Plus AMT Adjustments Personal and dependency e...View the full answer
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Related Book For 
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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