During All of 2020, Mr

Essay

During all of 2020, Mr. and Mrs. Clay lived with their four children (all are under the age of 17). They provided over one-half of the support for each child. Mr. and Mrs. Clay file jointly for 2020. Neither is blind, and both are under age 65. They reported the following tax-related information for the year. (Use the tax rate schedules, 2020 Alternative minimum tax (AMT)exemption)
What are the Clays' taxes payable or refund due? (Ignore the alternative minimum tax.)What are the Clays' tentative minimum tax and alternative minimum tax?