Question: Problem 6-22 (Algorithmic) The Individual Alternative Minimum Tax (AMT) (LO 6.9) Otto and Monica are married taxpayers who file a joint tax return. For the

Problem 6-22 (Algorithmic) The Individual Alternative Minimum Tax (AMT) (LO 6.9)

Otto and Monica are married taxpayers who file a joint tax return.

Problem 6-22 (Algorithmic) The Individual Alternative Minimum Tax (AMT) (LO 6.9) Otto and Monica are married taxpayers who file a joint tax return. For the current tax year, they have AGI of $104,400. They have excess depreciation on real estate of $73,080, which must be added back to AGI to arrive at AMTI. The amount of their mortgage interest expense for the year was $20,880, and they made charitable contributions of $10,440. If Otto and Monica's taxable income for the current year is $52,200, determine the amount of their AMTI

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