FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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[The following Information applies to the questions displayed below.]
In 2023, Juanita is married and files a joint tax return with her husband. What Is her tentative
minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule.
Dividends and Capital Gains Tax Rates for reference.
Note: Input all values as positive. Leave no answer blank. Enter zero if applicable.
c. Her AMT base is $112,000, which includes $16,700 of qualified dividends.
(1) AMT base
Description
(2) Dividends taxed at preferential rate
(3) Tax on dividends
(4) AMT base taxed at regular AMT rates
(5) Tax on AMT base taxed at 26% rate
(6) Tax on AMT base taxed at 28% rate
Tentative minimum tax
Amount
S
112,000
0
167,000
112,000
B
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Transcribed Image Text:Required Information [The following Information applies to the questions displayed below.] In 2023, Juanita is married and files a joint tax return with her husband. What Is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. c. Her AMT base is $112,000, which includes $16,700 of qualified dividends. (1) AMT base Description (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax Amount S 112,000 0 167,000 112,000 B
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