An Example of an AMT Tax Preference Is the Excess

question 62

True/False

An example of an AMT tax preference is the excess of MACRS depreciation on equipment over depreciation computed by using the the 150% declining balance method.

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Definitions:

Debit Memo

A document issued to correct or adjust amounts in previously issued invoices.

Decreases Asset

Transactions or events that result in a reduction of the value or quantity of the assets owned by a company.

Credit Memo

A credit memo is a document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under the original sales contract, often issued for returned goods or for a pricing discrepancy.

Increases Asset

A phrase indicating transactions or events that result in the growth of the asset value in an entity's balance sheet.