What is the basic exemption amount for single taxpayers in 2013?

$3,000

$20,000

$21,500

$51,900

Under which item of the tax formula would most timing difference deductions be categorized?

preference item

exemption item

(alternative minimum tax) AMT adjustment

tax rate

What is the tentative minimum tax for a taxpayer with an alternative minimum tax (AMT) base of $100,000 (assuming 2013 rates)?

$18,000

$26,000

$27,000

$28,000