In 2019, Liam's Filing Status Is Married Filing Separately

question 36

Multiple Choice

In 2019, Liam's filing status is married filing separately.For regular tax purposes, he has three dependents.Liam does not itemize deductions; his regular taxable income is $456,000. What is Liam's 2019 AMT base?

• A)$0.
• B)$412,350.
• C)$456,000.
• D)$468,200.

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Definitions:

Resource Market

Markets where resources (or factors of production) like labor, capital, and raw materials are bought and sold.

Consumption Expenditures

The total amount spent by consumers on goods and services within a specified period.

Households

Individuals or groups living together who make joint decisions on consumption and resource allocation, forming the basic consuming unit in an economy.

Product Market

The marketplace in which final goods or services are offered to consumers, businesses, and the public sector.