Ms. Kilo's regular income tax before credits on her Form 1040 is $45,890, and she has a $5,700 minimum tax credit from a previous year. Which of the following statements is true?
A) If Ms. Kilo's tentative minimum tax is $50,500, her total tax liability is $44,800.
B) If Ms. Kilo's tentative minimum tax is $42,400, her total tax liability is $40,190.
C) If Ms. Kilo's tentative minimum tax is $42,400, her total tax liability is $42,400.
D) Both A. and C. are true.
Correct Answer:
Verified
Q101: Mr.and Mrs.Bennett file a joint tax return.Determine
Q104: Which of the following statements concerning the
Q104: Which of the following statements concerning the
Q105: Last year, Mr. Corbett's AGI was $141,000,
Q106: Alice Grim,a single taxpayer,has $219,000 taxable income,which
Q106: Determine Mr. Smith's 2016 filing status in
Q106: Which of the following statements concerning extensions
Q109: Which of the following statements concerning extensions
Q110: Eileen,a single individual,had $125,000 taxable income.Compute her
Q110: Which of the following statements regarding tax
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents