TerraWise Inc. reported the following information for 2014: $$\begin{array} { | l | r | }
\hline \text { Regular taxable income } & \$ 5,620,000 \
\hline \text { Regular depreciation } & \$ 810,000 \
\hline \text { AMT depreciation } & \$ 570,000 \
\hline \text { Adjusted basis of equipment sold - Regular } & \$ 100,000 \
\hline \text { Adjusted basis of equipment sold - AMT } & \$ 140,000 \
\hline \begin{array} { l }
\text { Income from a private-activity municipal bond } \
\text { issued in 2006 }
\end{array} & \$ 45,000 \
\hline \text { Unfavorable ACE adjustment } & \$ 35,000 \
\hline
\end{array}$$ What is TerraWise Inc.'s AMTI?

Question

TerraWise Inc. reported the following information for 2014: $$\begin{array} { | l | r | } 
\hline \text { Regular taxable income } & \$ 5,620,000 \
\hline \text { Regular depreciation } & \$ 810,000 \
\hline \text { AMT depreciation } & \$ 570,000 \
\hline \text { Adjusted basis of equipment sold - Regular } & \$ 100,000 \
\hline \text { Adjusted basis of equipment sold - AMT } & \$ 140,000 \
\hline \begin{array} { l } 
\text { Income from a private-activity municipal bond } \
\text { issued in 2006 }
\end{array} & \$ 45,000 \
\hline \text { Unfavorable ACE adjustment } & \$ 35,000 \
\hline
\end{array}$$ What is TerraWise Inc.'s AMTI?

Quizplus · Accepted Answer

The Answer of TerraWise Inc. reported the following information for 2014: $$\begin{array} { | l | r | } 
\hline \text { Regular taxable income } & \$ 5,620,000 \
\hline \text { Regular depreciation } & \$ 810,000 \
\hline \text { AMT depreciation } & \$ 570,000 \
\hline \text { Adjusted basis of equipment sold - Regular } & \$ 100,000 \
\hline \text { Adjusted basis of equipment sold - AMT } & \$ 140,000 \
\hline \begin{array} { l } 
\text { Income from a private-activity municipal bond } \
\text { issued in 2006 }
\end{array} & \$ 45,000 \
\hline \text { Unfavorable ACE adjustment } & \$ 35,000 \
\hline
\end{array}$$ What is TerraWise Inc.'s AMTI?

TerraWise Inc What Is TerraWise Inc