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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 1
Nathan is married with two children and has AGI of $405,000. He also has the following AMT adjustments and preferences:
a. Itemized deductions:
b. Depreciation of a rental property purchased in August of 2001 for $210,000.
c. Depreciation on personal property:
d. Incentive Stock Option - Nathan exercises options to purchase 1000 shares at $19 per share when the market value is $26.
Prepare Form 6251 for the calculation of AMT. ( Hint : The regular tax is $84,900.)
a. Itemized deductions:
b. Depreciation of a rental property purchased in August of 2001 for $210,000.c. Depreciation on personal property:
d. Incentive Stock Option - Nathan exercises options to purchase 1000 shares at $19 per share when the market value is $26.Prepare Form 6251 for the calculation of AMT. ( Hint : The regular tax is $84,900.)
Explanation
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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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