Multiple Choice
Joshua purchased business furniture and fixtures (7-year property) for $40,000 in May 2012. On July 15, 2015, Joshua sold the furniture and fixtures for $30,000. During his years of ownership, he had taken $27,504 of depreciation for regular tax purposes. AMT depreciation for that period was $17,276. What is the 2015 AMT adjustment required as a result of the sale of the assets?
A) $0.
B) $7,276.
C) $10,228.
D) $17,504.
Correct Answer:
Verified
Correct Answer:
Verified
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