Problem 8-59 (LO 8-2) (Static)[The following information applies to the questions displayed below.In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in efollowing alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for referesNote: Input all values as positive. Leave no answer blank. Enter zero if applicable.Problem 8-59 Part a (Static)a. Her AMT base is $100,000, all ordinary income.Answer is complete but not entirely correct.Amount$ 100,000Description(1) AMT base(2) Dividends taxed at preferential rate(3) Tax on dividends(4) AMT base taxed at regular AMT rates(5) Tax on AMT base taxed at 26% rate(6) Tax on AMT base taxed at 28% rateTentative minimum tax00100,000161,000›› › ›***41,860 X0x

Tentative minimum tax refers to an amount that is paid by an individual as an estate tax after…

In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum ta following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for re Note: Input all values as positive. Leave no answer blank. Enter zero if applicable.

In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum ta following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for re Note: Input all values as positive. Leave no answer blank. Enter zero if applicable.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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! Required information Problem 8-59 (LO 8-2) (Algo) [The following information applies to the questions displayed below.] In 2022, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. Problem 8-59 Part c (Algo) c. Her AMT base is $164,000, which includes $11,000 of qualified dividends. Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax Amount
Required Information The following information applies to the questions displayed below] In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero If applicable. b. Her AMT base is $375,000, all ordinary income. Answer is complete but not entirely correct. Description Amount (1) AMT base $ 375,000 (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates 0 00 375,000 (5) Tax on AMT base taxed at 26% rate 40,118 (6) Tax on AMT base taxed at 28% rate 43,204 Tentative minimum tax S 83,322
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