Beulah, who is single and itemizes deductions, provides you with the following information from her financial records for 2019.Compute Beulah's AMTI. $$\begin{array} { l r }
\text { Regular income tax liability } & \$ 104,694 \
\text { AMT positive adiustments } & 33,000 \
\text { AMT preferences } & 75,000 \
\text { Taxable income } & 370,000
\end{array}$$
A)$0
B)$368,600
C)$407,700
D)$478,000
E)$490,000

Question

Beulah, who is single and itemizes deductions, provides you with the following information from her financial records for 2019.Compute Beulah's AMTI. $$\begin{array} { l r } 
\text { Regular income tax liability } & \$ 104,694 \
\text { AMT positive adiustments } & 33,000 \
\text { AMT preferences } & 75,000 \
\text { Taxable income } & 370,000
\end{array}$$
A)$0
B)$368,600
C)$407,700
D)$478,000
E)$490,000

Quizplus · Accepted Answer

To compute Beulah's Alternative Minimum Taxable Income (AMTI), add the AMT positive adjustments and AMT preferences to her taxable income: $370,000 + $33,000 + $75,000 = $478,000.

Beulah, Who Is Single and Itemizes Deductions, Provides You with the Following