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Data_Tax Calculation

This is your specific calculation from the input sheet

Calculation of Federal Tax:

Federal Tax Owed
1
Taxable Income
S_FInal
E_Final
Federal
Federal Tax
1
$304,900
$0.00
$19,900.00
10%
$1,990.00
2
$304,900
$19,901.00
$80,800.00
12%
$7,307.88
3
$304,900
$80,801.00
$81,050.00
12%
$29.88
4
$304,900
$81,051.00
$172,750.00
22%
$20,173.78
5
$304,900
$172,751.00
$250,000.00
24%
$18,539.76
6
$304,900
$250,001.00
$329,850.00
24%
$13,175.76
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Total Federal Income Tax Owed:
$61,217.06

Calculation of AMT Tax:

Calculate Total AMT Income

➕ AMT Gain
$426,250
➕ Gross Income
$330,000
✔️ Total AMT Income
$756,250

Calculate Exemption

➕ AMT Exemption Phaseout
$1,036,800
➖Total AMT Income
$756,250
✔️ Over Phaseout
0
✖️ Exemption Reduction Rate
0.25
✔️ AMT Exemption Reduction
0
➖ Gross Exemption Allowed
$114,600
✔️ Net Exemption Allowed
$114,600
✔️ Taxed AMT Income
$641,650

Calculate AMT Tax

✔️ Taxed AMT Income
$641,650
✖️ 26% Rate Amount
$197,900
✖️ 28% Rate Amount
$443,750
✔️ AMT Tax Total
$175,704
➖ Federal Income Tax Payable
$61,217.06
✔️ AMT Tax Payable
$114,486.94
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