Cliff Is Married and Files a Joint Return

question 59

Multiple Choice

Cliff is married and files a joint return. His return shows AGI of $1,268,000 and a net tax liability of $392,259 on taxable income of $1,224,000. He has $30,000 of preference items and $21,000 of net positive adjustments (including adjustments for itemized deductions) . The $109,400 exemption begins to phase out at $1 million. What is his AMTI exemption amount?

• A) $109,400
• B) $68,750
• C) $40,650
• D) $28,825

---

Definitions:

Formal Operational

The stage of cognitive development in Piaget’s theory characterized by the ability to think logically about abstract concepts.

Advanced Moral Reasoning

Advanced moral reasoning is a level of ethical thinking that goes beyond personal or cultural norms to consider the greater good and principles of justice, fairness, and human rights.

Preconventional

A stage in moral development where individuals' moral reasoning is based primarily on consequences and personal benefits.

Sociological Criticism

An approach in critical theory that analyzes literature, media, or art from a sociological perspective, focusing on cultural, economic, and political contexts.