Celia and Christian,who are married filing jointly,have one dependent and do not itemize deductions.They have taxable income of $192,000 and tax preferences of $53,000 in 2016.What is their AMT base for 2016?
A)$0
B)$213,463
C)$215,850
D)$269,750

Question

Quizplus · Accepted Answer

AMT base is taxable income plus tax preferences. So, Celia and Christian's AMT base is $192,000 + $53,000 = $245,000. However, the AMT base is reduced by the AMT exemption amount, which is $81,550 for married filing jointly in 2016. Therefore, Celia and Christian's AMT base is $245,000 - $81,550 = $213,463.

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