Vicki Owns and Operates a News Agency (As a Sole

question 37

Multiple Choice

Vicki owns and operates a news agency (as a sole proprietorship) . During 2017, she incurred expenses of $24,000 to increase circulation of newspapers and magazines that her agency distributes. For regular income tax purposes, she elected to expense the $24,000 in 2017. In addition, Vicki incurred $15,000 in circulation expenditures in 2018 and again elected expense treatment. What AMT adjustments will be required in 2017 and 2018 as a result of the circulation expenditures?

• A)$16,000 positive in 2017, $2,000 positive in 2018.
• B)$16,000 negative in 2017, $2,000 positive in 2018.
• C)$16,000 negative in 2017, $10,000 positive in 2018.
• D)$16,000 positive in 2017, $10,000 positive in 2018.
• E)None of the above.

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Definitions:

Redirect

A strategy used to change the direction of a behavior or conversation towards a more desirable outcome.

Anger

An emotional state that varies in intensity from mild irritation to intense fury and rage, often triggered by perceived wrongs or frustrations.

Mirror

An object that reflects light in such a way that, for incident light in some range of wavelengths, it reflects an image of what is in front of it.

Sad

A feeling characterized by sorrow, disappointment, or unhappiness.