What is the smith amt liability, Accounting Basics

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What is the smith amt liability

William and maria smith are a married couple filing jointly. they have no children and report the following items in 2009:

Taxable income: $70,000
Tax preferences: 20,000
AMT adjustments related to itemized deductions: 15,000
Regular tax liability: 9,875

A. What is the Smith's AMT liability?
B. What woud be William's AMT liabilityif he were an unmarried taxpayer filing single with a regular tax liability of $13,320?

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Accounting Basics: What is the smith amt liability

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Accounting Basics: What is the smith amt liability

Reference No:- TGS0705350

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Explain the total variable cost

Q : Compute annual depreciation for the first and second years

Q : How much higher or lower will the company''

Q : The effect of accepting the special order

Q : What is the smith amt liability

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the smith amt liability

Reference No:- TGS0705350

Recent Questions Asked Accounting Basics

Q : Explain the total variable cost

Q : Compute annual depreciation for the first and second years

Q : How much higher or lower will the company''

Q : The effect of accepting the special order

Q : What is the smith amt liability

Q : Estimate the sparrows ending inventory and cost of goods

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Q : Explain the difference in tax that would be paid

Q : What are the equivalent units of production

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