Lilly is single and has no taxable income for 2014.She has positive timing adjustments of $600,000 and AMT exclusions of $200,000.
a.Calculate Lilly's tentative AMT.
b.Calculate Lilly's AMT credit carryover to 2015.

Question

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The Answer of Lilly is single and has no taxable income for 2014.She has positive timing adjustments of $600,000 and AMT exclusions of $200,000.
a.Calculate Lilly's tentative AMT.
b.Calculate Lilly's AMT credit carryover to 2015.

Lilly Is Single and Has No Taxable Income for 2014