Nathan is married with two children and has AGI of $405,000. He also has the following AMT

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Nathan is married with two children and has AGI of $405,000. He also has the following AMT adjustments and preferences:

Itemized deductions:

medical after floor:$5,375 regular tax
taxes: $34,354 regular tax
mortgage interest:$14,900 regular tax
charitable:
contributions:$18,000 regular tax

Depreciation of a rental property purchased in August 2008 for $210,000.

Depreciation on personal property:
asset computer 1 $2,900 cost 2/12/2015 purchase date
asset furniture 1 $12,000 cost 2/12/2015 purchase date

Incentive stock option: Nathan exercises options to purchase 3,000 shares at $19 per share when the market value is $26.

Prepare Form 6251 for the calculation of AMT.

Posted Date: Nov 07, 2021 12:28 AM

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Nathan is married with two children and has AGI of $405,000. He also has the following AMT

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Expert Answer:

Form 6 251 would be calculated as follows N athan s regular tax would ... View the full answer

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