Drake and Davina are married and file a joint return for 2021 with taxable income of $100,000 and tax preferences and adjustments of $80,000 for AMT purposes. Their regular tax liability is $13,497. What is the amount of their total tax liability? A) $17,004 B) $46,800 C) $30,501 D) $13,497
Drake and Davina are married and file a joint return for 2021 with taxable income of $100,000 and tax preferences and adjustments of $80,000 for AMT purposes. Their regular tax liability is $13,497. What is the amount of their total tax liability? A) $17,004 B) $46,800 C) $30,501 D) $13,497
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 50P: Renee and Sanjeev Patel, who are married, reported taxable income of 1,008,000 for 2019. They...
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Drake and Davina are married and file a joint return for 2021 with taxable income of $100,000 and tax preferences and adjustments of $80,000 for AMT purposes. Their regular tax liability is $13,497. What is the amount of their total tax liability?
A) $17,004
B) $46,800
C) $30,501
D) $13,497
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