Jacob is single with no dependents. During 2020, he has $51,000 of taxable income. He also has $29,500 of positive AMI adjustments and $12,600 of tax preferences. Jacob does not itemize his deductions but takes the standard deduction. Calculate his AMTI. Multiple Choice
Jacob is single with no dependents. During 2020, he has $51,000 of taxable income. He also has $29,500 of positive AMI adjustments and $12,600 of tax preferences. Jacob does not itemize his deductions but takes the standard deduction. Calculate his AMTI. Multiple Choice
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter17: Business Tax Credits And The Alternative Minimum Tax
Section: Chapter Questions
Problem 36P
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