Which of the following is deductible in computing alternative minimum taxable income?
A)State income taxes
B)Property taxes on a personal residence
C)Employee business expenses
D)Tax preparation expenses
E)None of the above

Question

Quizplus · Accepted Answer

None of the options listed (state income taxes, property taxes on a personal residence, employee business expenses, tax preparation expenses) are deductible in computing alternative minimum taxable income. The alternative minimum tax is calculated using a separate set of rules and exemptions, and it disallows many common tax deductions and credits.

Which of the Following Is Deductible in Computing Alternative Minimum