Samuel,a single individual,has adjusted gross income of $150,000 and the following itemized deductions before applicable floor limitations for 2015: What are Samuel's itemized deductions for alternative minimum tax purposes?

Question

Samuel,a single individual,has adjusted gross income of $150,000 and the following itemized deductions before applicable floor limitations for 2015:  What are Samuel's itemized deductions for alternative minimum tax purposes?

Quizplus · Accepted Answer

[$17,000 - ($150,000 x .1)] + $20,000 + $7,000 = $29,000.Taxes and miscellaneous itemized deductions are not allowed for AMT.

Samuel,a Single Individual,has Adjusted Gross Income of $150,000 and the Following