Question: Using the legend provided classify the impact that each of

Using the legend provided, classify the impact that each of the following items has on unadjusted AMTI in arriving at ACE:
I = Increase in AMTI
D = Decrease in AMTI
E = Either an increase or a decrease in AMTI
N = No impact
a. Currently deducted intangible drilling costs.
b. Loss on sale of a piece of equipment to a related party.
c. Purchase of raw materials.
d. Nondeductible transportation fines.
e. Dividends received deduction for a 15%-owned business.
f. Proceeds from a key employee insurance policy.
g. Tax-exempt interest.

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  • CreatedSeptember 09, 2015
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