Certain Adjustments Must Be Made to Alternative Minimum Taxable Income

question 83

Multiple Choice

Certain adjustments must be made to alternative minimum taxable income (AMTI) to arrive at adjusted current earnings (ACE) .Which one of the following adjustments increases AMTI to arrive at ACE?

• A)federal income taxes paid
• B)the 80% dividends-received deduction
• C)gain realized on the installment sale of noninventory property
• D)excess of capital losses over capital gains

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Definitions:

Employment Equity Act

Legislation aimed at promoting fair treatment and eliminating discrimination in the workplace, ensuring equality of opportunity for all employees.

Federal Government

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Unfair or unequal treatment of people based on their gender, leading to disparities in opportunities, rights, and wages.