Jonathan Is Married, Files a Joint Return, and Has One

question 67

Multiple Choice

Jonathan is married, files a joint return, and has one child. During 2015, Jonathan has $85,000 of taxable income. He has $20,000 of positive AMT adjustments and $28,000 of tax preferences. Since Jonathan rents his home (pays no mortgage interest) and lives in Florida (has no state income tax) , he does not itemize his deductions but takes the standard deduction. Calculate Jonathan's AMTI (before exclusion amount) .

• A) $137,600.
• B) $145,000.
• C) $145,600.
• D)$157,600.

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Definitions:

Glucose

An elementary form of sugar critical for energy in living organisms, also making up parts of numerous carbs.

Cholesterol

A waxy, fat-like substance present in all cells of the body, needed to make vitamin D, hormones, and substances that help digest foods.

Lipid

A group of naturally occurring molecules that include fats, waxes, sterols, fat-soluble vitamins, and others, serving as key components of cell membranes and energy storage.

Steroid

Large family of lipids, including some reproductive hormones, vitamins, and cholesterol.