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Is It Possible That No AMT Adjustment Is Necessary for Medical

question 12

Essay

Is it possible that no AMT adjustment is necessary for medical expenses in calculating AMTI even though the floor limitation is different (7.5% of AGI for regular income tax compared to 10% for AMT purposes)?


Definitions:

Hispaniola

An island in the Caribbean Sea, divided into the sovereign states of Haiti and the Dominican Republic.

European Diseases

Infectious diseases brought to the Americas by European explorers and colonists that had devastating impacts on indigenous populations due to lack of prior exposure and immunity.

Gold and Silver

Precious metals that have been traditionally used as currency, in jewelry, and for industrial purposes due to their value and properties.

Inflation

A general increase in prices and fall in the purchasing value of money.

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