Tax Drill $-$ AMT Formula

Indicate whether the following statements are "True" or "False" regarding the alternative minimum tax.

a$.$Rather than having taxpayers recalculate the components of the individual income tax formula using a different set of rules, the calculation of AMTI begins with regular taxable income.

TrueFalse

b$.$In some cases, the income or expense amount is considered in both the regular income tax and AMT computations, but the amount differs.

TrueFalse

c$.$Alimony paid $($pre$-2019$ divorce agreements$)$ and certain itemized deductions, such as charitable contributions and gambling losses, are not allowed for AMT purposes.

TrueFalse