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Alex and Alicia Andrews file a joint tax return.

Alex and Alicia Andrews file a joint tax return. On the return they show Alex's salary of $110,000, interest income from corporate bonds of $3,000, dividends from domestic corporations of $1,000, and a net long term capital gain of $60,000. They also had the following expenses for itemized deductions: $18,000 medical expenses, $8,000 home mortgage interest, $5,000 in consumer interest, $4,000 in deductible taxes, $2,000 charitable contributions and $1,200 in miscellaneous deductions nos subject to the 2 percent limitation. The Andrews claim five exemptions on their return. Determine their net alternative minimum taxable income.

This is exercise is on the book CCH Federal Taxation, and it is exercise 58 chapter 9.
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