​Jesse Placed Equipment That Cost $48,000 in Service in 2015

question 15

Multiple Choice

​Jesse placed equipment that cost $48,000 in service in 2015 (neither § 179 expensing nor bonus depreciation was elected) .On July 1,2017,Jesse sold the equipment for $22,000.
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Regular tax and AMT depreciation amounts for the equipment are computed as follows.
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What AMT adjustments will be required for the equipment for 2017?
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• A)​$5,844 positive adjustment depreciation; $1,292 positive adjustment equipment sale
• B)​$324 positive adjustment depreciation; $(5,844) negative adjustment equipment sale
• C)$648 positive adjustment depreciation; $(2,276) negative adjustment equipment sale
• D)​$324 positive adjustment depreciation; $0 adjustment for the equipment sale

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Definitions:

Longitudinal Studies

Research designs that involve repeated observations of the same variables (e.g., people) over short or long periods of time.

Age Differences

Variations in behavior, attitudes, and expectations often attributed to individuals being of different chronological ages.

Cohort Differences

Variations in the characteristics or experiences of individuals belonging to different age or generational groups.

Emotional Self-regulation

The ability to monitor and manage one's own emotions, to begin or inhibit behavior in accordance with emotional responses.