Costs That Will Not Continue If an Ongoing Operation Is

question 138

Short Answer

Costs that will not continue if an ongoing operation is changed or deleted

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Definitions:

Standard Deduction

A fixed dollar amount that reduces the income on which you're taxed, varying by filing status, and claimed by those not itemizing deductions.

AMT Adjustments

Modifications required under the Alternative Minimum Tax rules to calculate certain items of income and deductions differently than for regular tax purposes.

Tax Preferences

Certain types of income or deductions that receive preferential tax treatment, affecting the calculation of alternative minimum tax (AMT).

Passive Activities

Economic engagements, such as rental activities or businesses in which the taxpayer does not actively participate, often with specific tax rules.