Reva and Josh Lewis Had Alternative Minimum Taxable Income of $350,000

question 86

Multiple Choice

Reva and Josh Lewis had alternative minimum taxable income of $350,000 in 2014 and file a joint return.For purposes of computing the alternative minimum tax,their exemption is

• A)$33,725.
• B)$52,800.
• C)$48,375.
• D)$82,100.

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Definitions:

Archaea

Singular archaean. Group of single-celled organisms that lack a nucleus but are more closely related to eukaryotes than to bacteria.

Introns

Noncoding sections of an RNA transcript, or the DNA encoding it, that are spliced out before the RNA is translated into a protein.

Post-transcriptionally Modified

Refers to the alterations made to mRNA molecules after transcription but before translation, affecting mRNA stability and translation efficiency.

Start Codon

It is a specific sequence of three nucleotides on mRNA that signals the start of protein synthesis.