Which of the Following Itemized Deductions Is Not Allowed for AMT

question 22

Multiple Choice

Which of the following itemized deductions is not allowed for AMT?

• A)Miscellaneous deductions.
• B)Depreciation.
• C)Medical expenses.
• D)Charitable contributions.

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Definitions:

Breach of Contract

The violation or failure to perform any term of a contract without a legitimate legal excuse.

Watered Shares

Shares that have been issued by a company at a value much greater than its actual asset value, leading to an inflation of the company's apparent worth.

Par Value

The face value of a bond or stock as stated by the issuer, which has little relation to its market price.

Issued

The act of officially distributing or making something available, such as a public statement, document, currency, or security.