Question

For 2015, Silver Corporation (a calendar year business) incurred the following transactions:
Taxable income................$3,950,000
Accelerated depreciation on pre-1987 real property
(in excess of straight-line depreciation) ....... 1,240,000
Excess intangible drilling cost ............ 475,000
AMT NOL deduction .............. 790,000
ACE adjustment (positive) ............ 1,500,000
a. Determine Silver Corporation’s AMTI for 2015.
b. Determine the tentative minimum tax base (refer to Exhibit 3.4).
c. Determine the tentative minimum tax.
d. What is the amount of any AMT?


$1.99
Sales5
Views284
Comments0
  • CreatedSeptember 09, 2015
  • Files Included
Post your question
5000