Miriam, who is a head of household and age 36, provides you with the following i
ID: 2699980 • Letter: M
Question
Miriam, who is a head of household and age 36, provides you with the following information from her financial records for 2011.Regular income tax liability $ 35,986 AMT positive adjustments 33,000 AMT preferences 25,000 Taxable income 160,000
Calculate her AMTI for 2011. Miriam, who is a head of household and age 36, provides you with the following information from her financial records for 2011.
Regular income tax liability $ 35,986 AMT positive adjustments 33,000 AMT preferences 25,000 Taxable income 160,000
Calculate her AMTI for 2011. Miriam, who is a head of household and age 36, provides you with the following information from her financial records for 2011.
Regular income tax liability $ 35,986 AMT positive adjustments 33,000 AMT preferences 25,000 Taxable income 160,000
Calculate her AMTI for 2011. $ 35,986 33,000 25,000 160,000 Regular income tax liability $ 35,986 AMT positive adjustments 33,000 AMT preferences 25,000 Taxable income 160,000
Explanation / Answer
Miriams AMTI is calculated as follows:
Taxable income + AMT positive adjustments + AMT preferences AMTI
= 160000+33000+25000= $218000
The regular income tax liability does not affect the calculation of AMTI