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For Amt Purposes,the Standard Deduction and Personal Exemptions Are

Question 49
Multiple Choice

For AMT purposes,the standard deduction and personal exemptions are: A)Allowed for AMT purposes. B)Added as a positive AMT adjustment. C)Reduced by half for AMT purposes. D)Subtracted as a negative AMT adjustment.

Related questions
Q 50
Jonathan is married,files a joint return,and has one child.During 2016,Jonathan has $85,000 of taxable income.He has $20,000 of positive AMT adjustments and $28,000 of tax preferences.Since Jonathan rents his home pays no mortgage interest)and lives in Florida has no state income tax),he does not itemize his deductions but takes the standard deduction.Calculate Jonathan's AMTI before exclusion amount). A)$157,750. B)$145,600. C)$145,150. D)$137,600.
Q 51
AMT depreciation of personal property is calculated using which method? A)Sum-of-the-years digits method. B)Straight-line method. C)200% declining balance method. D)150% declining balance method.
Q 52
Cal reported the following itemized deductions on his 2016 tax return.His AGI for 2016 was $85,000.The mortgage interest is all qualified mortgage interest to purchase his personal residence.For AMT,compute his total itemized deductions. A)$33,600. B)$17,700. C)$25,700. D)$0.
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