After Computing All Tax Preferences and AMT Adjustments, Adam and His

question 36

Multiple Choice

After computing all tax preferences and AMT adjustments, Adam and his wife Cindy have AMTI of $290,000. If Adam and Cindy file a joint tax return, what exemption amount can they claim for AMT for 2015?

• A) $0.
• B) $50,625.
• C) $53,600.
• D)$83,400.

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Definitions:

Depression-Related

Pertaining to symptoms, conditions, or factors associated with or resulting from depression, a mood disorder characterized by persistent feelings of sadness and loss of interest.

Brain Circuit

A network of particular brain structures that work together, triggering each other into action to produce a distinct kind of behavioral, cognitive, or emotional reaction.

Cognitive-Behaviorist

A cognitive-behaviorist is a mental health professional who applies principles of cognitive-behavioral therapy (CBT) to help individuals modify dysfunctional thoughts and behaviors to improve emotional regulation and develop personal coping strategies.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed. It is thought to be one of the underlying causes of depression.