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1. Ted, who is single, has AMTI of $450,000, which includes qualified dividends of $33,000 (AMTI without the dividends would be $417,000). Calculate Ted's tentative minimum tax for 2021. ___________
2. Russell, who is a head of household and age 42, claimed the standard deduction in 2021 and provides you with the following information from his financial records for 2021.
Regular income tax liability
$153,145
Municipal bond interest income
122,000
Taxable income
481,000
Calculate Robin's AMT for 2021 (THE AMOUNT ADDED TO THE REGULAR TAX LIABILITY TO GET TO THE TOTAL TENTATIVE AMT). $_____________
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