Which of the following statements regarding differences in the corporate and the individual AMT calculation is most correct?
A)The corporate AMT does not provide for a minimum tax credit.
B)Both the corporate and the individual AMT exemption amounts phase out once a certain level of AMTI is reached.
C)Unlike the corporate AMT, the only credit available to reduce an individual's tentative minimum tax (TMT) is the foreign tax credit.
D)Both the individual and the corporate AMT rates are graduated.

Question

​Which of the following statements regarding differences in the corporate and the individual AMT calculation is most correct? ​
A)​The corporate AMT does not provide for a minimum tax credit.
B)​Both the corporate and the individual AMT exemption amounts phase out once a certain level of AMTI is reached.
C)​Unlike the corporate AMT, the only credit available to reduce an individual's tentative minimum tax (TMT) is the foreign tax credit.
D)​Both the individual and the corporate AMT rates are graduated.

Quizplus · Accepted Answer

The corporate and individual AMT exemption amounts do phase out once a certain level of AMTI is reached.

​Which of the Following Statements Regarding Differences in the Corporate

Which of the Following Statements Regarding Differences in the Corporate