William and Maria Smith are a married couple filing jointly They have no children and report the following items in 2019 Taxable income $550,000 Tax preferences 70,000 AMT adjustments related co itemized deductions 40,000 Regular tax liability 168,488 a What is the Smith 's AMT liability b What wou...

a Taxable income 100000 PlusTax preference items 20000 Plus AMT Adjustments Adjustment related to it ...

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 2019:

Taxable income	$550,000
Tax preferences	70,000
AMT adjustments related co itemized deductions	40,000
Regular tax liability	168,488

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 $18,175?

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Federal Taxation 2020 Comprehensive

ISBN: 9780135196274

33rd Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse

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Question Posted: Jul 02, 2020 01:27 AM

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