Jake and Christina are married and file a joint return for the current year with taxable income of $100,000 and tax preferences and adjustments of $20,000 for AMT purposes. Their regular tax liability is $15,750. What is the amount of their total tax liability?
Correct. The taxpayer must pay whichever is higher - regular tax or AMT. If AMT is higher, that is the amount that the taxpayer must pay. You would not ...
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