Dan and Maureen File a Joint Income Tax Return for 2016

question 76

Essay

Dan and Maureen file a joint income tax return for 2016. They have two dependent children, ages 7 and 9. Together they earn wages of $152,000. They also receive taxable interest income of $8,000 and interest on City of Los Angeles bonds of $12,000. During 2016, they received a state income tax refund of $3,000 relating to their 2015 state income tax return on which they itemized deductions. Their expenses for the year consist of the following:
Calculate Dan and Maureen's tentative minimum tax liability assuming an AMT exemption amount of $83,800, before any phase-outs. Show your calculations.

---

Definitions:

Conflict

A situation or process in which individuals or groups perceive a threat to their needs, interests, or concerns and may involve physical, emotional, or ideological opposition.

Life Story Approach

The Life Story Approach is a method in psychological research and therapy that emphasizes the importance of understanding an individual's personal narrative and experiences to comprehend their behavior and mental processes.

Self-concept

The individual's belief about themselves, including their attributes and who and what the self is.

Narrative

A spoken or written account of connected events; a story.