7. Award: 0.62 points Problem 14-32 (Algo) [LO 14-8] For all the following cases, assume...
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7. Award: 0.62 points Problem 14-32 (Algo) [LO 14-8] For all the following cases, assume that taxable income does not include any dividend income or capital gain. Required: a. Compute AMT (if any) if Mr. and Mrs. Baker's taxable income on their joint return was $225,000, and their AMTI before exemption was $225,500. b. Compute AMT (if any) if Mr. Costa's taxable income on his single return was $197,550, and his AMTI before exemption was $220,500. C. Compute AMT (if any) if Ms. White's taxable income on her single return was $685,675, and her AMTI before exemption was $800,000 Assume the taxable year is 2021. Use Individual Tax Rate Schedules. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute AMT (if any) if Mr. and Mrs. Baker's taxable income on their joint return was $225,000, and their AMTI before exemption was $225,500. AMT
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