Jonathan is married,files a joint return,and has one child.During 2017,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)$137,700.
B)$145,250.
C)$145,700.
D)$157,850.

Question

Quizplus · Accepted Answer

Jonathan's AMTI is calculated by adding his taxable income, positive AMT adjustments, and tax preferences: $85,000 + $20,000 + $28,000 = $133,000. Then, add the standard deduction for 2017, which is $24,850 for married filing jointly, resulting in $157,850.

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