income tax
posted by Addy .
Jonathan is married, files a joint return, and has one child. During 2011, 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 Tennessee (has no state income tax), he does not itemize his deductions but takes the standard deduction. Calculate Jonathan's AMTI (before exclusion amount).
A. $133,000.
B. $144,100.
C. $144,600.
D. $155,700.
is it C
Respond to this Question
Similar Questions

Fed Tax 2 AMT
Corp reports  Taxable income 300,000 Interest on private activity bonds 20,000 Life insurance proceeds 250,000 Dividendsreceived deduction 50,000 Depreciation claimed for: Taxable income purposes 175,000 AMT purposes 130,000 Adjusted … 
College Algebra
The value of the expression (4220 + 0.25 (x  30,650) is the 2006 federal income tax for a single taxpayer with taxable income of x dollars, where x is over $30,650 but not over $74,200. Simplify the expression; Find the amount of … 
algebra
124. Marriage penalty eliminated. The value of the expression 4220 + 0.25(x 30,650) is the 2006 federal income tax for a single taxpayer with taxable income of x dollars, where x is over $30,650 but not over $74,200. a) Simplify the … 
college
124. Marriage penalty eliminated. The value of the expression 4220 + 0.25(x 30,650) is the 2006 federal income tax for a single taxpayer with taxable income of x dollars, where x is over $30,650 but not over $74,200. a) Simplify the … 
Math
Jason and Mary are married taxpayers in 2015. They are both under 65. For the tax year, they have a total of $41,000 in wages and $500 in interest income. Their deductions for adjusted gross income is $5,000 and their itemized deductions … 
Math
Jason and Mary are married taxpayers in 2015. They are both under 65. For the tax year, they have a total of $41,000 in wages and $500 in interest income. Their deductions for adjusted gross income is $5,000 and their itemized deductions … 
Math
Jason and Mary are married taxpayers in 2015. They are both under 65. For the tax year, they have a total of $41,000 in wages and $500 in interest income. Their deductions for adjusted gross income is $5,000 and their itemized deductions … 
Tax
A corp has domestic taxable income of $400,000 and foreignsource taxable income of $200,000. Their U.S. tax on worldwide income is $204,000. The corp paid foreign income taxes of $75,000. What is their foreign tax credit on their … 
Tax
The corp has domestic taxable income of $400,000 and foreignsource taxable income of $200,000. Their U.S. tax on worldwide income is $204,000. The corp paid foreign income taxes of $65,000. What is their foreign tax credit on their … 
Income tax
Steve and Sue are married with three dependent children. Their 2015 joint income tax return shows $389,000 of AGI and $60,000 of itemized deductions made up of $30,000 of state income taxes and $30,000 of charitable contributions.