In 2020, Janet and Ray are married filing jointly. They have five dependent children under...
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Accounting
In 2020, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. Janet and Rays taxable income is $2,400,000, and they itemize their deductions as follows: state income taxes of $10,000 and mortgage interest expense of $25,000 (acquisition debt of $300,000). Use Exhibit 8-5 and Tax Rate Schedule for reference.
Can anyone help with the Form 6251? I have no idea how to fill it out.
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