Compute Pat tentative minimum tax

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Problem - Pat is 40, is single, and has no dependents. She received a salary of $390,000 in 2019. She earned interest income of $11,000, dividend income of $15,000, gambling winnings of $14,000, and interest income from private activity bonds (issued in 2015) of $40,000. The dividends are not qualified dividends. The following additional information is relevant. Compute Pat's tentative minimum tax for 2019.

State income taxes $8,100

Real estate taxes 4,000

Mortgage interest on residence 13,100

Investment interest expense 3,800

Gambling losses 5,100

Reference no: EM132669535

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