Which of the Following Statements Is Correct

question 112

Multiple Choice

Which of the following statements is correct?

• A)The deduction for personal and dependency exemptions is not permitted in calculating the AMT.Therefore, in converting regular taxable income to AMTI, a positive adjustment is required.
• B)To the extent that itemized deductions exceed the standard deduction for regular income tax purposes, a positive AMT adjustment is required in converting regular taxable income to AMTI.
• C)The charitable contribution deduction for AMT purposes and for regular income tax purposes can be different. If this occurs, a positive AMT adjustment is required for the amount of the difference.
• D)Only a.and b.are correct.
• E)a., b., and c.are correct.

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Definitions:

Felony

A serious crime, typically involving violence, punishable by imprisonment for more than one year or by death.

Burglary

A crime in which someone unlawfully enters a building with intent to commit a felony or theft.

Robbery

The unlawful taking or attempted taking of personal property by force or threat of force and/or by putting the victim in fear.

Explosive Device

A tool or weapon designed to explode, causing damage or destruction through the rapid release of energy.