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Katie (single) has 2019 regular taxable income of $375,000, resulting in a regular tax liability of...

Katie (single) has 2019 regular taxable income of $375,000, resulting in a regular tax liability of $106,445. She has negative AMT adjustments of $45,000 and AMT preference items of $1,000. How much AMT does Katie owe in 2019?

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Answer #1
Calculation of AMT of Katie for the year 2019
Amount($)
Taxable Income 375000
Add:AMT Adjustments 45000
420000
Add: AMT preference items 1000
Alternative minimum tax Income 421000
Tentative minimum tax 95342 Upto 71700 0
Regular tax liability 106445 from 71701 upto 194800 123100 32006
Alternative minimum tax Nil Excess of 194800 226200 63336
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