Which of the Following Is (Are) AMT Tax Preference Item(s)

question 84

Multiple Choice

Which of the following is (are) AMT tax preference item(s) ?
I.Net operating loss deduction.
II.Exclusion of gain on qualified small business stock.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Pension Retirement Benefits

Long-term benefits or compensations provided to employees upon retirement, which may include contributions made by the employer to a pension plan.

U.S. Tax Laws

The body of laws governing federal, state, and local taxation in the United States, affecting individuals, businesses, corporations, and other entities.

Postretirement Benefit Expense

The cost incurred by an employer to provide non-pension postretirement benefits such as health care to retired employees, recognized during the period in which the employees render services.

Actual Return

The real profit or loss generated on an investment over a specific period, reflecting the difference between the ending value and the beginning value, adjusted for dividends and interest.