Homework (federal tax)

1. Robin, who is a head of household and age 42, provides you with the following information from his financial records for 2009.

Regular income tax liability $ 43,129
AMT adjustments 30,000
AMT preferences 20,000
Taxable income 185,000

Calculate his AMT for 2009.
a. $13,922.
b. $14,810.
c. $191,871.
d. $219,425.
e. None of the above.

Please state and justify your response. Thanks!

2. Rex and Dena are married and have two children, Michelle (age 7) and Nancy (age 5). During 2009, Rex earned a salary of $24,000, received interest income of $300, and filed a joint income tax return. Dena had $0 gross income. Their earned income credit for the year is:
a. $0.
b. $607.
c. $4,421.
d. $5,028.
e. None of the above.

Please state and justify your response. Thanks!