Question: When determining his alternative minimum tax, Edward had the following adjustments and preference items: Itemized deduction for state taxes $1,800 Refund of prior year state
When determining his alternative minimum tax, Edward had the following adjustments and preference items:
| Itemized deduction for state taxes | $1,800 |
| Refund of prior year state income tax | 300 |
| Cash contributions | 800 |
| Capital gain | 700 |
| Depletion in excess of adjusted basis | 700 |
What are the amounts of tax preference items and adjustments to taxable income for alternative minimum tax purposes on Edwards 2019 tax return?
| Preference | Adjustments | ||
| | |
| $1,400 | $1,500 |
| $700 | $0 |
| $1,400 | $2,300 |
| $700 | $1,500 |
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