Jolene receives tax-exempt interest of $33,000 on bonds that are classified as private activity bonds. She properly
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Jolene receives tax-exempt interest of $33,000 on bonds that are classified as private activity bonds. She properly excludes the $33,000 from her gross income for regular income tax purposes. Jolene asks your advice on the treatment of the interest income for AMT purposes. Locate the Code Section that covers this matter, and advise Jolene accordingly?
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Related Book For
South Western Federal Taxation 2016 Comprehensive
ISBN: 9781305395114
39th Edition
Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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