Which of the following statements concerning the individual alternative minimum tax (AMT) is true?

Question

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The calculation of the individual alternative minimum tax (AMT) begins with taxable income for regular tax purposes and makes certain adjustments and additions to arrive at alternative minimum taxable income (AMTI). Option B is incorrect because a taxpayer can still be liable for AMT even if they have no tax preference items. Option C is incorrect because the standard deduction is one of the AMT adjustments in calculating AMTI. Option D is incorrect because the individual AMT rate is not a flat 28%; rather, it is 26% for AMTI up to $194,800 (for single filers) or $389,800 (for married filing jointly) and 28% for AMTI above those thresholds.

Which of the Following Statements Concerning the Individual Alternative Minimum