Use the following data to calculate Chiaras AMT base in 2017. Taxable income .......................................... $148,000 Positive AMT

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Use the following data to calculate Chiara’s AMT base in 2017.
Taxable income ..........................................    $148,000
Positive AMT adjustments .........................       73,000
Negative AMT adjustments .......................       55,000
Preferences ...............................................         30,000
Chiara will itemize deductions and will file as a single taxpayer. Taxable income is computed before the personal exemption amount, which is not included in the positive AMT adjustments amount above.

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South-Western Federal Taxation 2018 Comprehensive

ISBN: 9781337386005

41st Edition

Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young

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