Hi there - I need some help with the following question. Thank you. Carson...
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Accounting
Hi there - I need some help with the following question. Thank you.
Carson had the following itemized deductions in 2015.
State income taxes $1,500
Charitable contributions 9,900
Mortgage interest (personal residence) 12,000
Medical expense ($8,000 - [10.0% x $75,000]) $500
Miscellaneous ($2,200 - [2% x $75,000]) $700
a. What are Carson's itemized deductions for AMT purposes?
b. What is the amount of the AMT adjustment?
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