In each of the following cases, compute AMT (if any).

In each of the following cases, compute AMT (if any). For all cases, assume that taxable income does not include any dividend income or capital gain.

a. Mr. and Mrs. Baker's taxable income on their joint return was $200,000, and their AMTI before exemption was $203,000.

b. Mr. Costa's taxable income on his single return was $177,300, and his AMTI before exemption was $198,000.

c. Ms. White's taxable income on her single return was $650,675, and her AMTI before exemption was $795,000.

A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...


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