Celia and Amos, Who Are Married Filing Jointly, Have One

question 7

Multiple Choice

Celia and Amos, who are married filing jointly, have one dependent and do not itemize deductions. They have taxable income of $82,000 and tax preferences of $53,000 in 2012. What is their AMT base for 2012?

• A)$0.
• B)$85,925.
• C)$94,450.
• D)$158,300.
• E)None of the above.

---

Definitions:

Sales Potential

An estimate of the maximum total revenue a product or service can generate under ideal conditions.

Business Owners

Individuals who legally possess a company or business, bearing the risks and enjoying the benefits of the entity's operations.

Business Liquidations

The process of closing a business and distributing its assets to claimants, often due to insolvency or inability to continue operations.

Prospective Buyers

Potential customers who have shown an interest in purchasing a product or service but have not yet made the purchase.