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5 terms

Chapter 7 MC Questions

STUDY
PLAY
The taxable income levels in the married filing jointly tax rate schedules are ___ those in the married filing separately schedule.
double
Assuming the kiddie tax applies, what amount of a child's income is subject to the kiddie tax?
the net unearned income
The alternative minimum tax base is typically __ the regular income tax base
larger than
What could explain why an increasing number of taxpayers are subject to (or could become subject to) AMT?
decreasing regular tax rates
What is not typical of taxpayers who are most likely affected by the AMT?
have relatively low capital gains