In Computing AMTI,all of the Following Must Be Added Back

question 129

Multiple Choice

In computing AMTI,all of the following must be added back except

• A)home mortgage interest (on mortgage in effect since home was purchased).
• B)state income taxes.
• C)unreimbursed employee business expenses.
• D)property taxes on an individual's home.

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Definitions:

SARA

The Superfund Amendments and Reauthorization Act, a 1986 US federal law that amended the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) to manage and clean up hazardous waste sites.

Hazardous Substances

Materials that can pose a risk to health, safety, and the environment if not properly handled or contained.

CEQ

Council on Environmental Quality, a federal agency that advises the United States president on environmental policy and issues.

Chlorofluorocarbons

Chemical compounds that were widely used as refrigerants and aerosol propellants until they were found to deplete the ozone layer.