Problem - Yanni, a single individual, reports the following information for the tax year.
Salary $80,000
State income taxes 6,800
Mortgage interest expense 6,200
Charitable contributions 1,500
Interest income 1,300
Personal exemption 4,000
Compute the following for Yanni.
1. Regular taxable income.
2. AMT Income.
3. Tentative minimum tax.