George and Meredith Who Are Married,have a Regular Tax Liability

question 77

Essay

George and Meredith who are married,have a regular tax liability of $22,728 based on regular taxable income of $125,000.This year they generated tax preferences of $25,000,and positive adjustments attributable to limitations on itemized deductions of $18,700.In determining regular taxable income,they had claimed $12,150 of personal and dependency exemptions for themselves and their 20-year-old dependent daughter.What is George and Meredith's alternative minimum tax for 2017?

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