William and maria smith are a married couple filing jointly, Ask an Expert

Accounting

William and maria smith are a married couple filing jointly. they have no children and report the following items in 2009:

Taxable income: $70,000
Tax preferences: 20,000
AMT adjustments related to itemized deductions: 15,000
Regular tax liability: 9,875

A. What is the Smith's AMT liability?
B. What woud be William's AMT liabilityif he were an unmarried taxpayer filing single with a regular tax liability of $13,320?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975427

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