Yanni, a single individual, reports the following information for the tax year. Salary .............................................$80,000 State income taxes
Question:
Salary .............................................$80,000
State income taxes .................................6,800
Mortgage interest expense ........................6,200
Charitable contributions ..........................1,500
Interest income ....................................1,300
Personal exemption ...............................4,050
Compute the following for Yanni.
a. Regular taxable income.
b. AMT income.
c. Tentative minimum tax.
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In 2016 Yannis taxable income a is 62750 his AMTI b ...View the full answer
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Related Book For
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
Question Posted:
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