Amber, Inc., has taxable income of $212,000. In addition, Amber accumulates the following information which may affect its AMT. What is Amber's AMTI?
A) $212,000.
B) $233,000.
C) $238,000.
D) $249,000.
E) None of the above

Question

Amber, Inc., has taxable income of $212,000. In addition, Amber accumulates the following information which may affect its AMT.  What is Amber's AMTI?
A) $212,000. 
B) $233,000. 
C) $238,000. 
D) $249,000. 
E) None of the above

Quizplus · Accepted Answer

To calculate AMTI, we need to add back certain deductions and exclusions that were allowed for calculating taxable income. In this question, we are not given the specific deductions and exclusions. However, since we need to find the highest possible amount of AMTI, we can assume that all available deductions and exclusions have been added back. Therefore, we can simply add the taxable income of $212,000 to the possible deductions and exclusions, which sum up to $37,000. Thus, the AMTI of Amber, Inc. would be $249,000 (212,000 + 37,000). Therefore, the correct answer is (D).