Pat is $40,$ is single, and has no dependents. She received a salary of $$390,000$ in $2023.$ She earned interest income of $$11,000,$ dividend income of $$15,000,$ gambling winnings of $$14,000,$ and interest income from private activity bonds $($issued in $2019)$ of $$40,000.$ The dividends are not qualified dividends. The following additional information is relevant.

State income taxes $$8,100$

Real estate taxes $4,000$

Mortgage interest on principal residence $13,100$

Investment interest expense $3,800$

Gambling losses $5,100$

Question Content Area

a$.$ Compute Pat's taxable income and AMTI.

Taxable Income Computation

Adjusted gross income $fill in the blank c$73$dd$1$f$7607$afce$\_1$

fill in the blank c$73$dd$1$f$7607$afce$\_3$

Taxable income $fill in the blank c$73$dd$1$f$7607$afce$\_4$

AMTI Computation

Taxable income $fill in the blank c$73$dd$1$f$7607$afce$\_5$

fill in the blank c$73$dd$1$f$7607$afce$\_7$

fill in the blank c$73$dd$1$f$7607$afce$\_9$

AMTI $fill in the blank c$73$dd$1$f$7607$afce$\_10$

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The purpose of the AMT formula is to reconcile taxable income to AMTI. The reconciliation of taxable income to AMTI is accomplished by entering reconciling items to account for differences between regular income tax provisions and AMT provisions. These reconciling items are referred to as AMT adjustments or tax preferences.

Question Content Area

b$.$ Compute Pat's tentative minimum tax.

Computation of AMT Base and Tax

AMTI $fill in the blank b$11187$fedfbe$075\_1$

AMT exemption fill in the blank b$11187$fedfbe$075\_2$

AMT base $fill in the blank b$11187$fedfbe$075\_3$

TMT $fill in the blank b$11187$fedfbe$075\_4$