The Computation of the Alternative Minimum Tax Base Begins with Regular

question 13

Multiple Choice

The computation of the alternative minimum tax base begins with regular taxable income.Which of the following is not part of the formula for computing the alternative minimum tax base?

• A) Subtract personal exemptions.
• B) Add the standard deduction amount if used for regular tax.
• C) Subtract the AMT exemption amount (if any).
• D) Add back tax exempt interest from a private activity bond not issued in 2009 or 2010.

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Definitions:

Workers' Compensation

A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for negligence.

Contributorily Negligent

Pertaining to a situation where an injured party may have contributed to their own harm or loss and thus may be partially responsible.

Recognized Standard

A set of criteria, norms, or guidelines that are widely accepted and implemented within a particular industry or field.

Bona Fide Occupational Qualification

A work requirement that is necessary for the normal operation of a particular business or enterprise, allowing discrimination in hiring under specific circumstances.