After personal property is fully depreciated for both regular income tax purposes and AMT purposes, the positive and negative adjustments that have been made for AMT purposes will net to zero.

Question

Quizplus · Accepted Answer

This statement is true. Once personal property is fully depreciated for both regular income tax purposes and AMT purposes, any positive or negative adjustments made for AMT purposes will no longer affect the taxpayer's tax liability.

After Personal Property Is Fully Depreciated for Both Regular Income