Paul Incurred Circulation Expenditures of $180,000 in 2017 and Deducted

question 33

True/False

Paul incurred circulation expenditures of $180,000 in 2017 and deducted that amount for regular income tax purposes. Paul has a $60,000 negative AMT adjustment for each of 2018, 2019, and for 2020.

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Definitions:

Fictitious Invoices

A method of fraud involving invoices for goods or services that were never received or provided.