Question

In each of the following cases, compute AMT (if any). For all cases, assume that taxable income does not include any dividend income or capital gain. a. Mr. and Mrs. Baker's taxable income on their joint return was $206,000, and their AMTI before exemption was $208,400. b. Mr. Costa's taxable income on his single return was $182,160, and his AMTI before exemption was $203,400. c. Ms. White's taxable income on her single return was $659,075, and her AMTI before exemption was $799,200. Assume the taxable year is 2019. Use Individual Tax Rate Schedules. Complete this question by entering your answers in the tabs below. Required A Required B Required C Mr. and Mrs. Baker's taxable income on their joint return was $206,000, and their AMTI before exemption was $208,400. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) | АМТ 37,789 Required Required B

Answer 1

101. Solution to the awesboy following is the Tap Slab Rate & Tax Return of single Joint Return 0-9700 o-19400 12'l. 9702-39475 19401 - 78950 39476- 84200 78951 - 1684 249. 84202-160725 168401 - 321450 321, 160726 - goulo 32148-40820 20410) - 5630 408201 - 612350 1.37.4. >S10200 >612350 357. Thug as per above slab. answer for Required A) [ons and Mrs. Bakers. Joint Retors AMII Before Examption : $208400 Less Exemption = ($2400) Taxable AMTI after exemption $206000 The Parabra on Biguro x10% $ 1940 om (78950-19600) X12% $7146 on (16840078950 x 22% $18679 on (2obovo - 148400 x 24% a $9024 - AMT $37.789