Which of the following statements is true in calculating AMT? Home acquisition interest deducted for regular tax

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Which of the following statements is true in calculating AMT?

Home acquisition interest deducted for regular tax must be added back for AMT.

Municipal bond interest must be added back for AMT.

Charitable contributions deducted for regular tax are limited to 30% of AGI for AMT.

Standard deduction claimed for regular tax must be added back for AMT

Related Book For answer-question

Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Posted Date: Jun 14, 2022 11:01 PM

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Which of the following statements is true in calculating AMT? Home acquisition interest deducted for regular tax

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bMunicipal bond interest must be added back for AMT Municipal bond interest is taxexempt at the fed... View the full answer

Governmental and Nonprofit Accounting

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