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What are charles itemized deductions for amt purposes

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Reference no: EM132205472

Question - Create table for this problem. Include these categories: AMT; Regular Tax: Adjustment.

Charles had the following itemized deductions in 2014:

State income taxes: $3,000

Charitable contributions: $4,900

Mortgage interest (personal residence): $14,000

Medical expenses: [$8,000-(7.5% ×$75,000)]: $2,375

Miscellaneous [$3,200-(2%×$75,000)]: $1,700

What are Charles' itemized deductions for AMT purposes? What is the amount of the AMT adjustment?

Reference no: EM132205472

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