Loop, Inc., received $135,237 of tax-exempt interest from Chicago municipal bonds issued in 2015. There was $12,030

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Loop, Inc., received $135,237 of tax-exempt interest from Chicago municipal bonds issued in 2015. There was $12,030 of interest expense related to these bonds that was not deductible. These bonds are private activity bonds because they were used to build a privately-owned manufacturing plant. Calculate any AMT adjustments and determine if they are positive or negative.
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South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts

ISBN: 1389

41st Edition

Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney

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