Lynn$,$ age $45,$ is single and has no dependents. Her income and expenses for $2021$ are

reported as follows.

The $$64,000$ business income is from Apex Office Supplies Company, a sole proprietorship

that Lynn owns and operates. Apex claimed MACRS depreciation of $$3,175$ on personal

property used in the business and placed in service in the current year. Lynn received

interest of $$30,000$ on City of Pensacola private activity bonds that were issued in $2015.$

Based on the financial information presented above, compute Lynn$\text{'}$s AMT for $2021.$ Ignore

the one$-$half deduction for self$-$employment taxes for this problem.

Click here to access the Tax Rate Schedules. Click here to access exemption tables.

If an amount is zero, enter $"$O$".$ Round your intermediate computations and final

answers to nearest dollar. If an amount is zero, enter $"$O$".$ Round your intermediate computations and final

answers to nearest dollar.

Gross income

Adjusted gross income

Less: deductions from AGI

Taxable income

Regular tax calculation

Total tax

Computation of alternative minimum tax

Taxable income

Plus: positive adjustments and tax preferences

Less: negative adjustment

Alternative minimum taxable income

Less: AMT exemption

AMT base

TMT

AMT

$$310,000$

$

$

$

$

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