Olga is married and filed a joint tax return with her husband. -her AMTI is $395,000. What sh the amount of AMT exemption. EXHIBIT 8-5 2022 AMT ExemptionsFiling StatusMarried filing jointlyMarried filing separatelyHead of household and singleExemption$118,10059,05075,900Phase-Out Begins atThis Level of AMTI$1,079,800539,900539,900Phase-Out Completefor This Level ofAMTI$1,552,200776,100843,500

Answer : As Olga's AMTI does not exceed $1,079,800 her AMT exemption is not phased out and she is…

Answered: filed a joint tax return with her…

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filed a joint tax return with her husband. -her AMTI is $395,000. What sh the amount of AMT exemption.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Olga is married and filed a joint tax return with her husband. -her AMTI is $395,000. What sh the amount of AMT exemption.

EXHIBIT 8-5 2022 AMT Exemptions
Filing Status
Married filing jointly
Married filing separately
Head of household and single
Exemption
$118,100
59,050
75,900
Phase-Out Begins at
This Level of AMTI
$1,079,800
539,900
539,900
Phase-Out Complete
for This Level of
AMTI
$1,552,200
776,100
843,500

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