The Purple Trust incurred the following items this year.
|
Taxable interest income |
$75,000 |
|
Tax exempt interest income, not on private activity bonds |
60,000 |
|
Tax exempt interest income, on private activity bonds (not |
|
|
issued during 2009 or 2010) |
25,000 |
Compute Purple’s tentative minimum tax for the year. Purple does not have any credits available to reduce the AMT liability.