Vinny's AGI is $250,000.He contributed $200,000 in cash to the Boy Scouts,a public charity.What is Vinny's charitable contribution deduction for AMT purposes?
A)$0
B)$50,000
C)$75,000
D)$125,000
E)None of these

Question

Quizplus · Accepted Answer

Vinny's charitable contribution deduction for AMT purposes is limited to 50% of AGI ($250,000 AGI × .50 = $125,000).The regular income tax amount for the charitable contribution deduction is the same as the amount for AMT purposes.

Vinny's AGI Is $250,000