Evan is a contractor who constructs both commercial and residential buildings. Even though some of the contracts could qualify for the use of the completed contract method, Evan decides to use the percentage of the completion method for all of his contracts. Therefore, no AMT adjustment is required.

Question

Quizplus · Accepted Answer

Evan's decision to use the percentage of completion method for all of his contracts means that he is not using the completed contract method. Therefore, no AMT adjustment is required.

Evan Is a Contractor Who Constructs Both Commercial and Residential