Mitch,who Is Single and Has No Dependents,had AGI of $100,000

question 121

Multiple Choice

Mitch,who is single and has no dependents,had AGI of $100,000 in 2012.His potential itemized deductions were as follows: What is the amount of Mitch's AMT adjustment for itemized deductions for 2012?

• A) $14,800.
• B) $16,800.
• C) $19,300.
• D) $25,800.
• E) None of the above.

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Definitions:

Millions

A numeral representation indicating one thousand times one thousand, or 1,000,000.

Non-Cash Expenses

Expenses recorded on an income statement that do not involve a direct cash outflow, such as depreciation.

Millions

A numerical value or unit representing one million units of a currency or indicating a quantity of one million in number.

Cash Flow

The total accounting of funds moving in and out of a business, directly affecting its capability to remain solvent.