Question: Problem 17-18 (LO. 4) Use the following data to calculate Chiara's AMT base in 2023: Taxable income Positive AMT adjustments Negative AMT adjustments AMT

Problem 17-18 (LO. 4) Use the following data to calculate Chiara's AMT base in 2023: Taxable income Positive AMT adjustments Negative AMT adjustments AMT preferences $248,000 73,000 25,000 30,000 Chiara will file as a single taxpayer and chooses to itemize her deductions. Click here to access the exemption table. Chiara's taxable income $248,000 Plus or minus: Positive adjustments 73,000 Negative adjustments -25,000 Plus: AMT preferences 30,000 Equals: AMTI 326,000 Less: AMT exemption -71,700 X Equals: AMT base $ 254,300 X

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