Comp SM_Ch15 - CHAPTER 15 ALTERNATIVE MINIMUM TAX SOLUTIONS...

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CHAPTER 15 ALTERNATIVE MINIMUM TAX SOLUTIONS TO PROBLEMS MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 AMT purpose Unchanged 1 2 AMTI: direct versus indirect calculation approach Unchanged 2 3 AMT adjustments versus tax preferences New 4 Tax preferences Modified 4 5 Tax preferences Unchanged 5 6 AMT formula Unchanged 6 7 Regular income tax liability versus AMT Unchanged 7 8 AMT exemption amount Unchanged 8 9 AMT rates New 10 AMT and nonrefundable tax credits Unchanged 10 11 AMT adjustment for cost recovery on personalty New 12 AMT adjustment for mining exploration and development costs Unchanged 12 13 Issue ID Unchanged 13 14 Long-term contract income adjustment Unchanged 14 15 Incentive stock options adjustment Modified 15 16 Regular income tax adjusted basis versus AMT adjusted basis Unchanged 16 17 Issue ID Modified 17 18 Passive activity losses AMT adjustment Unchanged 18 19 ATNOLD Unchanged 19 20 AMT and itemized deductions Unchanged 20 21 Issue ID Unchanged 21 22 AMT cutback adjustment Unchanged 22 23 AMT and interest Unchanged 23 24 AMT and personal and dependency exemptions New 15-1
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15-2 2005 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition and standard deduction 25 Percentage depletion preference Unchanged 25 26 Private activity bond preference Unchanged 26 27 Purpose of AMT credit Unchanged 27 28 Corporate versus noncorporate AMT New 29 Effect of ACE adjustment on financial and tax accounting Unchanged 29 30 AMT planning on recognition of income Unchanged 30 * 31 AMT base Modified 31 * 32 AMT calculation Modified 32 * 33 AMT calculation Modified 33 * 34 AMT exemption amount Modified 34 * 35 AMT and nonrefundable credits Unchanged 35 36 AMT adjustments: circulation expenditures Modified 36 * 37 Adjustments for circulation expenditures Unchanged 37 * 38 Cost recovery adjustment for AMT: realty New 39 Cost recovery adjustment for AMT: personalty Modified 39 40 Mining and exploration costs adjustment Unchanged 40 * 41 AMT adjustment for long-term contract Unchanged 41 * 42 Incentive stock option adjustment Unchanged 42 43 Adjustments for incentive stock options Unchanged 43 * 44 AMT adjustments: adjusted gain or loss New 45 Computing AMT passive loss Unchanged 45 46 Itemized deductions adjustment for AMT and medical expenses Unchanged 46 * 47 AMT adjustments for itemized deductions Unchanged 47 * 48 Mortgage interest adjustment for AMT Unchanged 48 49 Adjustment for investment interest and private activity bond preference Unchanged 49 * 50 Itemized deductions adjustment for AMT Unchanged 50 51 AMT standard deduction and personal exemption adjustments Modified 51 52 AMT percentage depletion preference Unchanged 52 * 53 AMT IDC preference Unchanged 53 54 Tax preference items and AMT adjustments including private activity bonds Unchanged 54 * 55 Comprehensive AMT calculation Modified 55 * 56 AMT calculation Unchanged 56 * 57 Computation of taxable income and AMT
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Comp SM_Ch15 - CHAPTER 15 ALTERNATIVE MINIMUM TAX SOLUTIONS...

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