The alternative minimum tax exemption: a. Is a direct reduction of the tentative minimum tax b. Is

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The alternative minimum tax exemption:

a. Is a direct reduction of the tentative minimum tax

b. Is a reduction of alternative minimum taxable income for certain taxpayers

c. Permits certain taxpayers to elect to treat AMT as a reduction of tax

d. Is subject to carryback and carryforward provisions

e. Increases the effects of tax preference items

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Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

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