Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following alternative circumstances? a. Her AMTI is $391,500. b. Her AMTI is $1,080,600. c. Her AMTI is $1,601,500.

Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following alternative circumstances? a. Her AMTI is $391,500. b. Her AMTI is $1,080,600. c. Her AMTI is $1,601,500.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 30CE: Phillis and Trey are married and file a joint tax return. For 2019, they have 4,800 of nonbusiness...

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Question

Olga is married and files a joint tax return with her husband.

What amount of AMT exemption may she deduct under each of the following alternative circumstances?

a. Her AMTI is $391,500.

b. Her AMTI is $1,080,600.

c. Her AMTI is $1,601,500.

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Step 2 Exemption Limit for the year 2021 in part (A)

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Step 3 Exemption Limit for the year 2021 in part (B)

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Step 4 Exemption Limit for the year 2021 in part (C)

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