Meg, who is single and age 36, provides you with the following information from her financial records.
Regular income tax liability $ 47,597
AMT positive adjustments 40,000
AMT preferences 20,000
Taxable income 190,000
Calculate her AMT exemption for 2011.
a. $0.
b. $23,450.
c. $14,075.
d. $48,450.
e. None of the above.