Which of the following statements is correct?
A)If the tentative AMT is $10,000 and the regular income tax liability is $12,000,the AMT is $2,000.
B)If the tentative AMT is $12,000 and the regular income tax liability is $10,000,the AMT is $12,000.
C)If the tentative AMT is $10,000 and the regular income tax liability is $12,000,the AMT is a negative $2,000.
D)If the tentative AMT is $12,000,and the regular income tax liability is $10,000,the AMT is $2,000.
E)None of these.

Question

Quizplus · Accepted Answer

The AMT is the excess of the tentative AMT over the regular income tax liability.

Which of the Following Statements Is Correct