Cliff Is Married and Files a Joint Return

question 8

Multiple Choice

Cliff is married and files a joint return. His return shows AGI of $268,000 and a net tax liability of $49,772 on taxable income of $224,000. He has $30,000 of preference items and $21,000 of net positive adjustments (including adjustments for itemized deductions and exemptions) . What is his AMTI exemption amount?

• A) $83,800
• B) $67,725
• C) $55,975
• D) $28,825

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Definitions:

Online Update

The process of updating software or firmware over the internet without the need for physical media or direct connection to a computer or server.

DMM Display

The visual interface of a Digital Multimeter that shows measurements like voltage, current, and resistance.

Anode

Positive electrode.

Cathode

Negative electrode.