For alternative minimum tax purposes, taxpayers are allowed to deduct state income taxes but are not allowed to deduct charitable contributions.
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Q15: Generally, income from an active trade or
Q16: The AMT exemption amount is phased-out for
Q17: Both the width (or range) of the
Q18: All capital gains are taxed at preferential
Q19: For alternative minimum tax purposes, taxpayers are
Q21: Self-employed taxpayers are allowed to deduct the
Q22: The American opportunity credit is available only
Q23: The lifetime learning credit can be used
Q24: Employees are allowed to deduct a portion
Q25: Employee status is always better than independent
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