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

question 100

Multiple Choice

Celia and Christian, who are married filing jointly, have one dependent and do not itemize deductions. They report taxable income of $192,000 and tax preferences of $53,000 in 2017. What is their AMT base for 2017?

• A)$0.
• B)$212,587.
• C)$215,550.
• D)$269,850.

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Definitions:

Eurobonds

Bonds issued in a currency other than the home currency of the country or market in which it is issued, often used by companies to raise capital in international markets.

Foreign Bonds

These are bonds issued in a domestic market by a foreign entity, in the domestic market's currency, as a way for the issuer to raise capital from investors in that market.

Foreign Government

The governing authority of a nation, state, locality, or community outside of one's own country.

Direct Quote

The rate of foreign exchange denoted in the national currency per each foreign currency unit.