Sylvester files as a single taxpayer during 2023. He itemizes deductions for regular tax purposes. He paid charitable contributions of $9,800, real estate taxes of $1,400, state income taxes of $6,800, and mortgage interest of $1,500 on $32,550 of acquisition indebtedness on his home. Sylvester's regular taxable income is $177,000. What is Sylvester's AMTI?

Sylvester files as a single taxpayer during 2023. He itemizes deductions for regular tax purposes. He paid charitable contributions of $9,800, real estate taxes of $1,400, state income taxes of $6,800, and mortgage interest of $1,500 on $32,550 of acquisition indebtedness on his home. Sylvester's regular taxable income is $177,000. What is Sylvester's AMTI?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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