Question: Select all that apply When comparing depreciation rules for regular tax purposes to those for alternative minimum tax ( AMT ) purposes, which of the
Select all that apply
When comparing depreciation rules for regular tax purposes to those for alternative minimum tax AMT purposes, which of the following statements are INCORRECT?
Multiple select question.
Depreciation of real property uses longer recovery periods for AMT purposes than for regular tax purposes.
The allowable recovery periods and conventions are the same for all depreciable assets for AMT purposes as for regular tax purposes.
For AMT, the total AMT depreciation is always added to regular taxable income to calculate the AMT base.
For AMT purposes, businesses must depreciate tangible personal property using the percent declining balance method.
Bonus depreciation is deductible for both regular tax purposes and AMT purposes.
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