William and Maria Smith are a married couple filing jointly. They have no children and report the following items in 2016:
Taxable income...............................................................................$70,000
Tax preferences................................................................................20,000
AMT adjustments related to itemized deductions.......................15,000
Regular tax liability.............................................................................9,573
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 $13,271?