Jerusha Is Married and She Files a Separate Tax Return

question 45

Essay

Jerusha is married and she files a separate tax return in 2018.She claimed the standard deduction for regular tax purposes ($12,000).She had no other adjustments.Her regular taxable income was $67,800.What is Jerusha's AMTI?

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Definitions:

Sales Contract

A legally binding agreement between a seller and a buyer detailing the sale of goods or services.

Court

A governmental institution authorized to settle disputes, adjudicate legal matters, and administer justice in accordance with the law.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved in order to be enforceable.

Guarantor

An individual or entity that guarantees to pay a borrower's debt in the event the borrower defaults on a loan obligation.