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26-01-2024
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Mt Toomey (a 45-year-old single taxpayer) exercised an ISO and purchased $380,000 worth of his employer's stock for only $113,000 His only other income was his $158,500 salary, and he doesn't itemize deductions.
Compute Mr. Toomey's income tax including any AMT Use Individual Tax Rate Schedules and Standard Deduction Table (Round Intermediate and final answers to the nearest whole dollar amount.)

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