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In 2022. Nadia is single and has $122,000 of regular taxable income. She itemizes her
deductions as follows: real property taxes of $2,600, state income taxes of $3,100, and mortgage
interest expense of $15,500 (acquisition indebtedness of $200,000 ). In addition, she recelves
tax-exempt interest of $3,200 from a municipal bond (issued in 2006) that was used to fund a
new business building for a (formerly) out-of-state employer. Finally, she recelved a state tax
refund of $850 from the prior year. Note: Amounts to be deducted should be indicated by o
minus sign. Problem 8-55 Part a-1 (Algo) 0-1. What is Nadia's AMTI this year if she deducted
$17,750 of itemized deductions last year (including a total of $4,000 of real property taxes and
state income taxes) and did not owe any AMT last year?

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In 2022. Nadia is single and has $122,000 of regular taxable income. .pdf

  • 1. In 2022. Nadia is single and has $122,000 of regular taxable income. She itemizes her deductions as follows: real property taxes of $2,600, state income taxes of $3,100, and mortgage interest expense of $15,500 (acquisition indebtedness of $200,000 ). In addition, she recelves tax-exempt interest of $3,200 from a municipal bond (issued in 2006) that was used to fund a new business building for a (formerly) out-of-state employer. Finally, she recelved a state tax refund of $850 from the prior year. Note: Amounts to be deducted should be indicated by o minus sign. Problem 8-55 Part a-1 (Algo) 0-1. What is Nadia's AMTI this year if she deducted $17,750 of itemized deductions last year (including a total of $4,000 of real property taxes and state income taxes) and did not owe any AMT last year?