Ch12V1TB - CHAPTER 12 ALTERNATIVE MINIMUM TAX Instructor:...

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Unformatted text preview: CHAPTER 12 ALTERNATIVE MINIMUM TAX Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more eas- ily preview their selections using the printed Test Bank in the same numbering system. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Purpose of AMT Unchanged 1 2 Direct versus indirect method New 3 Adjustments New 4 Adjustments versus preferences Unchanged 4 5 Circulation expenditures Unchanged 5 6 Circulation expenditures New 7 AMT exemption amount Unchanged 7 8 AMT rates Unchanged 8 9 AMT rates and net capital gain Unchanged 9 10 AMT credits Unchanged 10 11 AMT credits Unchanged 11 12 Tentative AMTI versus regular taxable income Unchanged 12 13 Tentative AMT Unchanged 13 14 Phaseout of AMT exemption amount Modified 14 15 AMT adjustments Unchanged 15 16 Circulation expenditures: positive and negative New adjustments 17 Depreciation adjustment Unchanged 17 18 Depreciation adjustment Unchanged 18 19 Depreciation adjustment Unchanged 19 20 Pollution control facilities adjustment Unchanged 20 21 Mining exploration and development expenditures Unchanged 21 adjustment 22 Mining exploration and development expenditures Unchanged 22 adjustment 23 Research and experimental expenditures adjustment Unchanged 23 24 Long-term contracts adjustment Unchanged 24 25 Long-term contracts adjustment Unchanged 25 26 Incentive stock option adjustment New 27 Incentive stock option adjustment Unchanged 27 28 Incentive stock option adjustment Modified 28 29 Adjusted gain or loss: basis Unchanged 29 30 Adjusted gain or loss: sale of land Modified 30 31 Passive activity loss adjustment Modified 31 32 Alternative minimum tax NOL adjustment Unchanged 32 12-1 12-2 2009 Annual Edition/Test Bank Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 33 Charitable contribution deduction Unchanged 33 34 Gambling loss adjustment Unchanged 34 35 Cutback adjustment New 36 Medical expenses adjustment Unchanged 36 37 Medical expenses adjustment Unchanged 37 38 Unreimbursed employee business expenses Unchanged 38 adjustment 39 Interest on home equity loan adjustment Unchanged 39 40 Personal and dependency exemption adjustment Unchanged 40 41 Percentage depletion preference Unchanged 41 42 IDC preference Unchanged 42 43 Private activity bonds interest preference Unchanged 43 44 Preference for small business stock exclusion Unchanged 44 45 AMT credit Unchanged 45 46 Corporation: small corporation exception New 47 Corporation: AMT adjustments Unchanged 47 48 Corporation: AMT tax rates New 49 Corporation: AMT adjustments Unchanged 49 50 Corporation: AMT credit Unchanged 50 MULTIPLE CHOICE 1 AMT characteristics Unchanged 1 2 AMT exemption amount Unchanged 2 3 AMTI calculation Modified 3 4 Circulation expenditures Modified 4 5 Regular tax liability versus AMT Unchanged 5 6 AMT characteristics Unchanged 6 7 AMT rates Unchanged 7...
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This note was uploaded on 10/24/2011 for the course ACC 432A taught by Professor Forrestyoung during the Fall '11 term at National.

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Ch12V1TB - CHAPTER 12 ALTERNATIVE MINIMUM TAX Instructor:...

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