Which of the following is (are) AMT tax preference item(s)?
I.Net operating loss deduction.
II.Exclusion of gain on qualified small business stock.

A)Only statement I is correct.
B)Only statement II is correct.
C)Both statements are correct.
D)Neither statement is correct.

Question

Which of the following is (are) AMT tax preference item(s)?
I.Net operating loss deduction.
II.Exclusion of gain on qualified small business stock.
​
A)Only statement I is correct.
B)Only statement II is correct.
C)Both statements are correct.
D)Neither statement is correct.

Quizplus · Accepted Answer

The exclusion of gain on qualified small business stock is an AMT tax preference item, while the net operating loss deduction is not.

Which of the Following Is (Are) AMT Tax Preference Item(s)