Celia and Christian,who are married filing jointly,have one dependent and do not itemize deductions.They have taxable income of $92,000 and tax preferences of $53,000 in 2015.What is their AMT base for 2015?
A)$0
B)$86,200
C)$88,875
D)$169,600
E)None of the above

Question

Quizplus · Accepted Answer

To calculate AMT base, we need to add tax preferences to taxable income and then subtract AMT exemption. In 2015, the AMT exemption for married filing jointly is $83,400.

Tax preferences = $53,000
Taxable income = $92,000

AMT base = (Taxable income + Tax preferences) - AMT exemption
= ($92,000 + $53,000) - $83,400
= $161,600 - $83,400
= $88,200

Therefore, the correct answer is C) $88,875.

Celia and Christian,who Are Married Filing Jointly,have One Dependent and Do