Which of the common deductions below are allowed for both regular tax purposes and for AMT purposes in 2018?
A)The standard deduction
B)Personal and dependency exemptions
C)State income taxes, property taxes, and all other taxes deducted on Schedule A
D)Mortgage interest from the acquisition of a residence with a loan balance less than $750,000
E)Miscellaneous itemized deductions taken on Schedule A

Question

Quizplus · Accepted Answer

The deduction for mortgage interest on a residence with a loan balance less than $750,000 is allowed for both regular tax purposes and for AMT purposes in 2018. The other deductions listed are either not allowed for AMT purposes (A, B, and E) or have limitations or phase-outs for AMT purposes (C).

Which of the Common Deductions Below Are Allowed for Both