What is janet and rays amt, Accounting Basics

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What is janet and rays amt

In 2013, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. The couple's AGI is $180,000 and their taxable income is $140,000. They itemize their deductions as follows: real property taxes of $5,000, state income taxes of $9,000, and mortgage interest expense of $15,000 (not a home-equity loan). (Use 2013 AMT exemption amounts).
a. What is Janet and Ray's AMT?

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