For Alternative Minimum Tax Purposes, Taxpayers Are Required to Add

question 172

True/False

For alternative minimum tax purposes, taxpayers are required to add back the regular tax standard deduction amount for their filing status whether or not they itemized deductions for regular tax purposes.

---

Definitions:

Performance Deficiency

A situation where an individual's or an entity's output fails to meet the expected or required standards.

Management Challenge

A situation that tests the skills, knowledge, and abilities of those in leadership positions to handle complex organizational issues.

Information Competency

The ability to find, evaluate, use, and communicate information in various formats effectively.

Intellectual Capital

The intangible value of a company's employee knowledge, business training, and any proprietary information that contributes to the company's competitive advantage.