For all the following case, assume that taxable income does not include any dividend income...
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For all the following case, assume that taxable income does not include any dividend income or capital gain.
Question: Compute AMT (if any) if Ms. Juma's, a single taxpayer, reported taxable income of $664,675 and AMTI before exemption of $815,000. Assume the tax year is 2023.
Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Enter "0" if taxpayer is not subject to AMT.
\begin{tabular}{|l|l|} \hline & Single \\ \hline If taxable income is & The tax is \\ \hline Not over $11,000 & 10% of taxable income \\ \hline Over $11,000 but not over $44,725 & $1,100.00+12% of excess over $11,000 \\ \hline Over $44,725 but not over $95,375 & $5,147.00+22% of excess over $44,725 \\ \hline Over $95,375 but not over $182,100 & $16,290.00+24% of excess over $95,375 \\ \hline Over $182,100 but not over $231,250 & $37,104.00+32% of excess over $182,100 \\ \hline Over $231,250 but not over $578,125 & $52,832.00+35% of excess over $231,250 \\ \hline Over $578,125 & $174,238.25+37% of excess over $578,125 \\ \hline \end{tabular}
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