What is sylvester amti, XSylvester files as a single taxpayer during 2013 and claims one , Accounting Basics

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What is sylvester amti

XSylvester files as a single taxpayer during 2013 and claims one personal exemption. He itemizes deductions for regular tax purposes. He paid charitable contributions of $8,800, real estate taxes of $3,100, state income taxes of $7,750, and interest on a home-equity loan of $3,200. Sylvester's regular taxable income is $178,000.

a.What is Sylvester's AMTI if he used the home-equity proceeds to purchase a car?

b.What is Sylvester's AMTI if he used the home-equity loan proceeds to build a new garage next to his home?

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Accounting Basics: What is sylvester amti

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Accounting Basics: What is sylvester amti

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Recent Questions Asked Accounting Basics

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