Pineview Company, a single member LLC, placed in service on June 1, 2022 a $5,000 asset. The

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Pineview Company, a single member LLC, placed in service on June 1, 2022 a $5,000 asset. The asset has a three-year MACRS class life and is ineligible for § 179 expensing and bonus depreciation. Complete the table below by providing the AMT adjustment, and indicate whether the adjustment increases or decreases taxable income.

Year 2022 2023 2024 2025 Tax Deduction $1,667 2,222 740 371 AMT Deduction $1,250 1,875 1,250 625 AMT

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South Western Federal Taxation 2023 Essentials Of Taxation Individuals And Business Entities

ISBN: 9780357720103

26th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

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Question Posted: Sep 28, 2023 05:07 AM

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Pineview Company, a single member LLC, placed in service on June 1, 2022 a $5,000 asset. The

Question:

Year 2022 2023 2024 2025 Tax Deduction $1,667 2,222 740 371 AMT Deduction $1,250 1,875 1,250 625 AMT Adjustment Increases or Decreases

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For property placed into service after 2000 an AMT adjustment applies o...View the full answer

South Western Federal Taxation 2023 Essentials Of Taxation Individuals And Business Entities

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