Jaclyn Biggs, who files as a head of household, never paid AMT before 2018. In 2018, her
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Jaclyn Biggs, who files as a head of household, never paid AMT before 2018. In 2018, her regular tax liability was $102,220 which included 39,900 capital gain taxed at 20 percent, and her AMTI in excess of her exemption amount was $422,500. Compute Jaclyn's total income tax for 2018.
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Regular tax 102220 Taxable AMTI 422500 Tentative minimum tax 191100 ordinary AMTI ...View the full answer
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Related Book For
Principles Of Taxation For Business And Investment Planning 2019 Edition
ISBN: 9781260161472
22nd Edition
Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan
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