Caroline and Clint Are Married, Have No Dependents, and File $\begin{array}{l}\text { AMTI }&\$285,000 \\\text { Regular income tax liability }&42,066 \\\text { AMT tax preferences }&90,000\end{array}$

Essay

Caroline and Clint are married, have no dependents, and file a joint return in 2014. Use the following selected data to calculate their Federal income tax liability.
$\begin{array}{l}\text { AMTI }&\$285,000 \\\text { Regular income tax liability }&42,066 \\\text { AMT tax preferences }&90,000\end{array}$