Which of the Following Items Is Not Added Back to Regular

question 137

Multiple Choice

Which of the following items is not added back to regular taxable income in computing alternative minimum taxable income?

• A) Home mortgage interest expense.
• B) Real property taxes.
• C) Tax exempt interest from a private activity bond issued in 2007.
• D) Miscellaneous itemized deductions in excess of the 2% floor.

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Definitions:

Strictly Liable

A legal principle where an individual or organization is held responsible for damages or injuries caused by their actions or products, regardless of fault or intent.

Soft Drinks

Non-alcoholic beverage, typically carbonated, which includes sodas, colas, and other flavored and sweetened drinks.

Misrepresentation

The act of providing false or misleading statements or information, intentionally or unintentionally, about a material fact.

Fraud

A deliberate deception to secure unfair or unlawful gain, often at the expense of others.