FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Brooklyn files as a head of household for 2022. They claimed the standard deduction of $19,400 for regular tax purposes. Their regular taxable income was $80,000.

What is Brooklyn's AMTI?

 

Brooklyn files as a head of household for 2022. They claimed the standard deduction of $19,400 for regular tax purposes. Their
regular taxable income was $80,000.
What is Brooklyn's AMTI?
Description
(1) Regular taxable income
(2) Standard Deduction
AMTI
$
Amount
80,000
19,400
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Transcribed Image Text:Brooklyn files as a head of household for 2022. They claimed the standard deduction of $19,400 for regular tax purposes. Their regular taxable income was $80,000. What is Brooklyn's AMTI? Description (1) Regular taxable income (2) Standard Deduction AMTI $ Amount 80,000 19,400
Expert Solution
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AMTI

AMTI is the abbreviated form of Alternate minimum taxable income. This amount is used for taxation purposes and can be determined by summing up the applicable deductions to the amount of taxable income of the taxpayer.

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