Multiple Choice
Which of the following statements concerning the individual alternative minimum tax (AMT) is true?
A) The calculation of alternative minimum taxable income begins with taxable income for regular tax purposes.
B) A taxpayer with no tax preference items for the year can't be liable for AMT.
C) The standard deduction is not an AMT adjustment in calculating AMTI.
D) The individual AMT rate is a flat 28%.
Correct Answer:
Verified
Correct Answer:
Verified
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