Determine the total actual taxes paid

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Reference no: EM132823680

Question - Kevin reported several tax preference items in taxable income in 2019. The normal federal tax in 2019 was $35,000 and the alternative minimum tax (AMT) was $52,000. In 2020 Niko earned only employment income, and the normal tax for the year was $25,000.

Required -

A. Determine the total actual taxes paid for 2019.

B. Determine the total actual taxes paid for 2020.

Reference no: EM132823680

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