In 2020, Sven is single and has $126,000 of regular taxable income. He itemizes his deductions as
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In 2020, Sven is single and has $126,000 of regular taxable income. He itemizes his deductions as follows: real property tax of $2,300, state income tax of $4,300, and mortgage interest expense of $16,500 (acquisition debt of $300,000). He also has a positive AMT depreciation adjustment of $1,100.
What is Sven’s alternative minimum taxable income (AMTI)?
Related Book For
Essentials of Federal Taxation 2018
ISBN: 9781260007640
9th edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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