Question

Flicker, Inc., a closely held corporation, acquired a passive activity this year. Gross income from operations of the activity was $160,000. Operating expenses, not including depreciation, were $122,000. Regular income tax depreciation of $49,750 was computed under MACRS. AMT depreciation, computed using the ADS, was $41,000. Compute Flicker's passive loss deduction and passive loss suspended for regular income tax purposes. Then determine the same amounts for AMT purposes.


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  • CreatedMay 25, 2015
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