L earned $200,000 on the LPGA.She has deductible self-employment away-from-home expenses of $100,000 and current year's circulation expenditures of $90,000.L uses the standard deduction.Determine the regular tax liability and the AMT liability.

Question

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The regular tax liability is calculated after deducting the self-employment expenses and the standard deduction from the earnings. The AMT liability considers adjustments and preferences, including the circulation expenditures, leading to a higher tax liability under AMT rules.

L Earned $200,000 on the LPGA