Erica - Baseline
Main Worksheet
2000
Filing Status Joint
Personal Exemptions 4
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Ordinary Income 450,000
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Adjusted Gross Income 450,000
Itemized Deductions 67,368
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Taxable Income 382,632
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AMTI Net of Exemption 385,000
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Schedule or Table Tax 124,190
Tentative Minimum Tax 104,300
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Net Federal Tax 124,190
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Total Net Tax Liability 124,190
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Erica w/500K AMT Preference Income
Main Worksheet
2000 2001 2002 2003 2004
Filing Status Joint Joint Joint Joint Joint
Personal Exemptions 4 4 4 4 4
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Ordinary Income 450,000 450,000 450,000 450,000 450,000
----------- ----------- ----------- ----------- -----------
Adjusted Gross Income 450,000 450,000 450,000 450,000 450,000
Itemized Deductions 67,368 67,488 67,488 67,488 67,488
----------- ----------- ----------- ----------- -----------
Taxable Income 382,632 382,512 382,512 382,512 382,512
----------- ----------- ----------- ----------- -----------
AMTI Net of Exemption 885,000 0 385,000 385,000 385,000
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Schedule or Table Tax 124,190 123,292 123,292 123,292 123,292
Tentative Minimum Tax 244,300 0 104,300 104,300 104,300
Nonrefundable Credits 0 -120,110 0 0 0
----------- ----------- ----------- ----------- -----------
Net Federal Tax 244,300 3,182 123,292 123,292 123,292
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Total Net Tax Liability 244,300 3,182 123,292 123,292 123,292
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Alternative Minimum Tax
2000 2001 2002 2003 2004
Taxable Income: 382,632 382,512 382,512 382,512 382,512
----------- ----------- ----------- ----------- -----------
Prefs & Adjustments:
Taxes 12,000 12,000 12,000 12,000 12,000
Itemized Deduction Floor -9,632 -9,512 -9,512 -9,512 -9,512
Private Act Bond Interest 0 0 0 0 0
Section 1202 Exclusion Pref 0 0 0 0 0
Other Deferral Adjs 500,000 -500,000 0 0 0
----------- ----------- ----------- ----------- -----------
Alt Min Taxable Income 885,000 -115,000 385,000 385,000 385,000
Exemption 0 -45,000 0 0 0
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Taxable Excess 885,000 0 385,000 385,000 385,000
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AMT Tax from Schedule 244,300 0 104,300 104,300 104,300
Tentative Minimum Tax 244,300 0 104,300 104,300 104,300
Regular Tax -124,190 -123,292 -123,292 -123,292 -123,292
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Alternative Minimum Tax 120,110 0 0 0 0
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Erica w/500K AMT Preference Income
Minimum Tax Credit
2000 2001 2002 2003 2004
Taxable Income 382,632 382,512 382,512 382,512 382,512
----------- ----------- ----------- ----------- -----------
Exclusion Preferences & Adjs 2,368 2,488 2,488 2,488 2,488
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Total Exclusion Prefs & Adjs 2,368 2,488 2,488 2,488 2,488
----------- ----------- ----------- ----------- -----------
AMTI W/ Only Exclusion Prefs & Adjs 385,000 385,000 385,000 385,000 385,000
Exemption 0 0 0 0 0
----------- ----------- ----------- ----------- -----------
Taxable Excess 385,000 385,000 385,000 385,000 385,000
----------- ----------- ----------- ----------- -----------
AMT Tax from Schedule 104,300 104,300 104,300 104,300 104,300
AMT Alt Cap Gains Tax N/A N/A N/A N/A N/A
Tentative Minimum Tax W/ Only Excl 104,300 104,300 104,300 104,300 104,300
Regular Tax -124,190 -123,292 -123,292 -123,292 -123,292
----------- ----------- ----------- ----------- -----------
Net Min Tax With Only Exclusion Pref 0 0 0 0 0
----------- ----------- ----------- ----------- -----------
Net Minimum Tax 120,110 0 0 0 0
Net Minimum Tax With Only
Exclusion Preferences 0 0 0 0 0
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Credit Generated 120,110 0 0 0 0
Credit From Prior Years 0 120,110 0 0 0
Allowed in Current Year 0 120,110 0 0 0
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Carried to Future Years 120,110 0 0 0 0
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