The Net Capital Gain Included in an Individual Taxpayer's AMT

question 58

True/False

The net capital gain included in an individual taxpayer's AMT base is not eligible for the alternative tax rate on net capital gain.This favorable alternative rate applies only in calculating the regular income tax.

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Definitions:

Wind-Powered Electricity

The generation of electrical power by converting the energy obtained from wind turbines into electricity.

Genetic Engineering

The direct manipulation of an organism's genes using biotechnology, altering its genetic makeup.

Sustainability

Conducting activities in a way that allows for the long-term well-being of the natural environment, including all biological entities; involves the assessment and improvement of business strategies, economic sectors, work practices, technologies, and lifestyles so that they maintain the health of the natural environment.