Essay
George and Meredith who are married,have a regular tax liability of $22,838 based on regular taxable income of $125,000.This year they generated tax preferences of $25,000,and positive adjustments attributable to limitations on itemized deductions of $18,700.In determining regular taxable income,they had claimed $12,000 of personal and dependency exemptions for themselves and their 20-year old dependent daughter.What is George and Meredith's alternative minimum tax for 2015?
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*$83,400 - [.25 × (...View Answer
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Correct Answer:
Verified
*$83,400 - [.25 × (...View Answer
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