Which of the Following Statements About the Calculation of Alternative

question 59

Multiple Choice

Which of the following statements about the calculation of alternative minimum taxable income is true?

• A)Excess percentage depletion is a positive adjustment to AMTI.
• B)The AMT net operating loss can reduce AMTI to zero.
• C)The AMTI exemption for all corporations is $40,000.
• D)The minimum tax credit can be carried back two years.

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