Arlene, who is single and itemizes deductions, reports taxable income for 2022 of $612,000. Calculate her alternative minimum tax, if any, given the following additional information. AMT adjustments Positive Negative Tax preferences $22,000 (25,000) 146,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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K3.

 

Arlene, who is single and itemizes deductions, reports
taxable income for 2022 of $612,000.
Calculate her alternative minimum tax, if any, given the
following additional information.
AMT adjustments
Positive
Negative
Tax preferences
$22,000
(25,000)
146,000
Transcribed Image Text:Arlene, who is single and itemizes deductions, reports taxable income for 2022 of $612,000. Calculate her alternative minimum tax, if any, given the following additional information. AMT adjustments Positive Negative Tax preferences $22,000 (25,000) 146,000
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