Hydrangia Corporation reports the following results for the current year:
$\begin{array}{lc}
\text { Taxable income } & \$ 300,000 \
\text { Interest on private activity bonds } & 20,000 \
\text { Life insurance proceeds } & 250,000 \
\text { Dividends-received deduction } & 50,000
\end{array}$
Depreciation claimed for:
$\begin{array}{ll}
\text { Taxable income purposes } & 175,000 \
\text { AMT purposes } & 130,000 \
\text { Adjusted current earnings } & 800,000
\end{array}$
What is Hydrangia Corporation's alternative minimum tax liability?

Question

Hydrangia Corporation reports the following results for the current year:
 $\begin{array}{lc}
\text { Taxable income } & \$ 300,000 \
\text { Interest on private activity bonds } & 20,000 \
\text { Life insurance proceeds } & 250,000 \
\text { Dividends-received deduction } & 50,000
\end{array}$
 Depreciation claimed for:
 $\begin{array}{ll}
\text { Taxable income purposes } & 175,000 \
\text { AMT purposes } & 130,000 \
\text { Adjusted current earnings } & 800,000
\end{array}$
 What is Hydrangia Corporation's alternative minimum tax liability?

Quizplus · Accepted Answer

The Answer of Hydrangia Corporation reports the following results for the current year:
 $\begin{array}{lc}
\text { Taxable income } & \$ 300,000 \
\text { Interest on private activity bonds } & 20,000 \
\text { Life insurance proceeds } & 250,000 \
\text { Dividends-received deduction } & 50,000
\end{array}$
 Depreciation claimed for:
 $\begin{array}{ll}
\text { Taxable income purposes } & 175,000 \
\text { AMT purposes } & 130,000 \
\text { Adjusted current earnings } & 800,000
\end{array}$
 What is Hydrangia Corporation's alternative minimum tax liability?

Hydrangia Corporation Reports the Following Results for the Current Year