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Author Question: Drake and Davina are married and file a joint return for 2016 with taxable income of $100,000 and ... (Read 75 times)

Hungry!

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Question 1

All of the following are allowable deductions under the alternative minimum tax except
◦ charitable contributions.
◦ gambling losses.
◦ qualified housing interest.
◦ state income taxes.

Question 2

Drake and Davina are married and file a joint return for 2016 with taxable income of $100,000 and tax preferences and adjustments of $51,000 for AMT purposes. Their regular tax liability is $16,533. What is the amount of their total tax liability?
◦ $17,472
◦ $39,260
◦ $34,005
◦ $16,533


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Marked as best answer by Hungry! on Sep 13, 2020

Joy Chen

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Hungry!

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)


vickybb89

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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