Gunter, Who Is Divorced, Provides You with the Following Financial

Essay

Gunter, who is divorced, provides you with the following financial information for the current year.Calculate Gunter's AMTI. $\begin{array}{lr}\text { Salary } && \$ 460,000 \\\text { Gain on sale of land held nine months } && 50,000\\\text { (regular income tax basis is } \$ 14,000 \text { less than AMT basis) }\\\text { Traditional IRA contribution } && 5,000\\\text { Itemized deductions: }\\\text { Charitable contributions } & \$ 13,000 \\\text { Home mortgage interest on his principal residence } & 14,000\end{array}$
$\begin{array}{ccc}\text { State income taxes } & \underline{18,000} & (45,000) \\\text { Private activity municipal bond interest } && 25,000\end{array}$