Respuesta :
According to the given information, Wilma's alternative minimum taxable income is $152,000.
Total alternative minimum taxable income = Regular taxable income +
State tax income + Exemptions
There are no exemption claims in this question.
Regular taxable income =$150,000 and State tax income = $2,000
So, Wilma's alternative minimum taxable income = $150,000 + $2,000
= $152,000
- Taxable income is the portion of your gross income that is used to determine your tax liability for a specific tax year. In general, it may be defined as adjusted gross income (AGI) less permitted standard or itemized deductions. Along with investment income and numerous unearned income streams, taxable income includes wages, salaries, bonuses, and tips.
- Earned income and unearned income both qualify as taxable income. Taxable unearned income includes forgiven debts, government benefits (such unemployment and disability payments), strike benefits, and lottery winnings. Taxable income also includes dividend and interest income, as well as revenues from the sale of valued assets during the year.
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