In 2020, Maia (who files as a head of household)reported regular taxable income of $117,000. She itemized her deductions, deducting $8,200 in charitable contributions and $3,200 in state income taxes. What is Maia's alternative minimum taxable income?

Question

Quizplus · Accepted Answer

Maia's alternative minimum taxable income is $120,200. This is because her regular taxable income of $117,000 is increased by the amount of her itemized deductions that are not allowed for AMT purposes, which is $8,200 in charitable contributions and $3,200 in state income taxes.

In 2020, Maia (Who Files as a Head of Household)reported