Olga is married and files a joint tax return with her husband. What amount of AMT...
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Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following alternative circumstances? Exhibit 8-5. (Leave no answer blank. Enter zero if applicable.) a. Her AMTI is $398,250. Amount of AMT exemption b. Her AMTI is $1,152,000. Amount of AMT exemption . Her AMTI is $3,800,000. Amount of AMT exemption EXHIBIT 8-5 2019 AMT Exemptions Phase-Out Complete Exemption Phase-Out Begins at This Level of AMTI Filing Status for This Level of AMTI Married filing jointly Married filing separately $111,700 $1,020,600 $1,467,400 55,850 510,300 733,700 Head of household and single 71,700 510,300 797,100 Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following alternative circumstances? Exhibit 8-5. (Leave no answer blank. Enter zero if applicable.) a. Her AMTI is $398,250. Amount of AMT exemption b. Her AMTI is $1,152,000. Amount of AMT exemption . Her AMTI is $3,800,000. Amount of AMT exemption EXHIBIT 8-5 2019 AMT Exemptions Phase-Out Complete Exemption Phase-Out Begins at This Level of AMTI Filing Status for This Level of AMTI Married filing jointly Married filing separately $111,700 $1,020,600 $1,467,400 55,850 510,300 733,700 Head of household and single 71,700 510,300 797,100
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Answer a As Olgas AMTI does not exceed 1020600 her AMT exemption is not phased out ... View the full answer
Related Book For
Essentials of Federal Taxation 2019
ISBN: 9781260190045
10th edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Posted Date:
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