Tax

posted by .

For AMT purposes, the standard deduction and personal exemptions are:
A. allowed for AMT purposes.
B. added as a positive AMT adjustment.
C. subtracted as a negative AMT adjustment.
D. reduced by half for AMT purposes.


is it B

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Fed Tax 2- AMT

    Corp reports - Taxable income 300,000 Interest on private activity bonds 20,000 Life insurance proceeds 250,000 Dividends-received deduction 50,000 Depreciation claimed for: Taxable income purposes 175,000 AMT purposes 130,000 Adjusted …
  2. tax problem

    Can someone please help me with the following question. I really don't know where to start. -In 2006, Jack and Jill Money had AGI of $275,750 and taxable income of $175,000. They have three children, all of whom qualify for the dependency …
  3. Taxes

    Omar acquires used 7-year personal property for $100,000 to use in his business in February 2008. Omar does not elect 179 expensing, but does take the maximum recovery dedcution. As a result, Omar will have a positive AMT adjustment …
  4. Finance

    In 2008, Glenda had a $97,000 loss on a passive activity. None of the loss is attributable to AMT adjustments or preferences. She has no other passive activities. Which of the following statements is correct?
  5. algebra - half lives

    Half-life of tritium is 12.32 years. Write decay equation as N(t) = N(subzero)e^(-rt) where t is the time in days, N(subzero) is the starting amt of tritium and N(t) is amt of tritium at time t. don't know how to find -r.
  6. tax

    Which of the following itemized deductions is not allowed for AMT?
  7. Chemistry

    semibatch reaction: C6H6(l) +Cl2(g) ==> C6H5Cl(l) + HCl(g) C6H5(l) + Cl2(g) ==> C6H4Cl2(l) + HCl(g) C6H4Cl2(l) + Cl2(g) ==> C6H3Cl3(l) + HCl(g) \reactor contained 11.0 mole of benzene and a product mixture in which the amt …
  8. Algebra

    As a promotion, a store draws the name of a customers each week. The prize is a coupon for the store. If winner is not present at drawing, he cannnot claim the prize and the amount of the coupon increases for the next weeks drawing. …
  9. math: ratios

    By the end of the year Kieran's savings is 9/2 of Simon's savings. a) what is the ratio of Kieran's savings to their total savings?
  10. Income tax

    Catherine purchased furniture and fixtures (7-year property) for her shop for $80,000 in May 2013. What AMT depreciation adjustment is required in 2013?

More Similar Questions