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
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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?
AMTI
Transcribed Image Text: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? AMTI
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