Which of the following items are tax preference items for purposes of arriving at alternative minimum taxable income?
A) excess intangible drilling costs on oil and gas properties
B) interest income earned on federal obligations
C) all depreciation claimed on pre-1987 real property acquisitions
D) excess of net long-term capital gains over short-term capital losses
Correct Answer:
Verified
Q1: The alternative minimum tax is the excess
Q2: Life insurance proceeds are a positive adjustment
Q4: The ACE adjustment always increases alternative minimum
Q5: In the last three years,Wolf Corporation had
Q6: All corporations,except S corporations and small C
Q7: The NOL deduction is calculated the same
Q8: Corporations cannot use the installment method in
Q9: Identify which of the following statements is
Q10: Which of the following items are adjustments
Q11: The Small C corporation exemption from AMT
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