All of the following are allowable deductions under the alternative minimum tax except

A) charitable contributions.
B) medical expenses.
C) qualified housing interest.
D) state income taxes.


D) state income taxes.

Charitable contributions, qualified housing interest, and gambling losses are all itemized deductions that are allowed for AMT purposes. State income taxes are not.

Business

You might also like to view...

A chi-square analysis is the examination of frequencies for two metric variables in a cross-tabulation table to determine whether the variables have a significant relationship

Indicate whether the statement is true or false

Business

Prepare ______________ to support your decisions on ethical issues

a. witnesses b. policies c. documents d. rationalizations

Business

When preparing a statement of cash flows using the indirect method, why is depreciation added back to net income within the operating activities section?

Business

Which of the following group building and maintenance roles expresses standards to be applied in evaluating the quality of team process?

A) standard setter B) gatekeeper-expediter C) follower D) blocker

Business