Sylvester files as a single taxpayer during 2015 and claims one personal exemption. He itemizes deductions for regular tax purposes. He paid charitable contributions of $7,200, real estate taxes of $3,900, state income taxes of $4,550, and interest on a home-equity loan of $2,400. Sylvester’s regular taxable income is $141,000?
|a.||What is Sylvester’s AMTI if he used the home-equity proceeds to purchase a car?
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Question & Answer: Sylvester files as a single taxpayer during 2015 and claims one personal exemption. He itemize…..
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