Lilly is single and has no taxable income for 2015.She has positive timing adjustments of $600,000 and AMT exclusions of $200,000.
a.
Calculate Lilly's tentative minimum tax.
b.Calculate Lilly's AMT credit carryover to 2016.

Question

Lilly is single and has no taxable income for 2015.She has positive timing adjustments of $600,000 and AMT exclusions of $200,000. ​
a.​
Calculate Lilly's tentative minimum tax.
b.Calculate Lilly's AMT credit carryover to 2016.

Quizplus · Accepted Answer

The Answer of Lilly is single and has no taxable income for 2015.She has positive timing adjustments of $600,000 and AMT exclusions of $200,000. ​
a.​
Calculate Lilly's tentative minimum tax.
b.Calculate Lilly's AMT credit carryover to 2016.

Lilly Is Single and Has No Taxable Income for 2015