Jacob is single with no dependents. During 2013, Jacob has $110, 000 of taxable income. He has $38,000 of positive AMT adjustments and $22, 000 of…
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Jacob is single with no dependents. During 2013, Jacob has $110, 000 of taxable income. He has $38,000 of positive AMT adjustments and $22, 000 of tax preferences. Jacob does not itemize his deduction but takes the standard deduction. Calculate Jacob’s AMTI.
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