Jonathan is married,files a joint return,and has one child.During 2016,Jonathan has $85,000 of taxable income.He has $20,000 of positive AMT adjustments and $28,000 of tax preferences.Since Jonathan rents his home pays no mortgage interest)and lives in Florida has no state income tax),he does not itemize his deductions but takes the standard deduction.Calculate Jonathan's AMTI before exclusion amount).
A)$157,750.
B)$145,600.
C)$145,150.
D)$137,600.

Question

Quizplus · Accepted Answer

Jonathan's AMTI before exclusion amount is $157,750. This is calculated by adding his taxable income of $85,000 to his positive AMT adjustments of $20,000 and his tax preferences of $28,000, and then subtracting the standard deduction of $12,700.

Jonathan Is Married,files a Joint Return,and Has One Child