The deduction for personal and dependency exemptions is allowed for regular income tax purposes, but is disallowed for AMT purposes. This results in a positive AMT adjustment
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: Personal and dependency exemptions allowed for regular income tax purposes are not allowed in computing AMTI. So the amount of the deduction for personal and dependency exemptions for regular income taxes is a positive adjustment in calculating the AMT.
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