ECON_138A_HW#2

ECON_138A_HW#2 - Trevor Salas Perm #3255593 10/24/11...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Trevor Salas Perm #3255593 10/24/11 Homework #2 1) A. Married filing Jointly or Married filing separately (if they choose to do so) B. Head of Household (if she has dependents) or Single Taxpayer C. Married filing Separately D. Head of Household 31) A. Regular Income Tax : $27,087.50 + (28% of (200,000-139,350)) = $44,069.50 Tentative Min. Tax : $203,000 – 150,000 = 53,000 x 25% = $13,250 redux in exempt. Exemption for married filing jointly = $74,450 – 13,250 (redux) = $61,200 exemption AMTI = $203,000 – 61,200 exemption = $141,800 AMTI in excess of exemption $141,800 x 26% = $36,868 Tentative minimum tax Since tentative minimum tax is lower than regular income tax, the AMT = 0. B. Regular income Tax: $4,750 + (25% of (77,300-34,500)) =
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.
Ask a homework question - tutors are online