Determine Alternative Minimum Tax Exposure Practice Test

A married couple filing jointly has $\$500,000$ of wages, $\$5,500$ of taxable interest, $\$9,000$ of qualified dividends, and $\$70,000$ of long-term capital gains. They itemize deductions including $\$60,000$ of SALT and claim no credits; no other AMT adjustments apply. Under IRC §56, which adjustment is required for AMT calculation?

A single taxpayer has $\$265,000$ of wages, $\$2,000$ of taxable interest, $\$3,500$ of qualified dividends, and $\$50,000$ of long-term capital gains. The taxpayer itemizes $\$33,000$ of SALT and has no other AMT adjustments. Under IRC §56, which adjustment is required for AMT calculation?