(Answered) Question - dick jones a single taxpayer had 70000 in

Accounting

Question - Dick Jones, a single taxpayer, had $70,000 in taxable income before personal exemptions in the current year. Jones had no tax preferences. His itemized deductions were as follows:

State and local income taxes $5,000

Home mortgage interest on loan to acquire residence 6,000

Miscellaneous deductions exceeding 2% of AGI 2,000

What amount did Jones report as alternative minimum taxable income before the AMT exemption?

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