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Elijah is single. He holds a $12,000 AMT credit available from 2015. In 2016, his...

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Accounting

Elijah is single. He holds a $12,000 AMT credit available from 2015. In 2016, his regular tax liability is $28,000 and his tentative minimum tax is $24,000.

Does Elijah owe AMT tax in year 2016? Yes How much of the AMT credit, if any, can Elijah use in 2016? $.

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