Question

Jake and Christina are married and file a joint return for 2019 with taxable income of $100,000 and tax preferences and adjustments of $30,000 for AMT purposes. Their regular tax liability is $13,717. What is the amount of their total tax liability? Group of answer choices $4,758 $13,717 $15,158 $18,475

Answer 1

$13,717

Step-by-step explanation:

The amount of AMTI is ($100,000+$30,000) $130,000.

AMT base

= $130,000 - $83,400

=$46,600.

TMT is $46,600 × .26 = $12,116.

Their tax liability which is $13,717 is greater of the TMT or regular tax which is $12,116.

Hence , the amount of their total tax liability in this case is $13,717