Interest income on private activity bonds issued before 2009 and after 2010, reduced by expenses incurred in carrying the bonds, is a preference item that is included in computing AMTI.

Question

Quizplus · Accepted Answer

This statement is true. Private activity bond interest income is a preference item for AMT calculation and is reduced by expenses incurred in carrying the bonds. This applies to bonds issued before 2009 and after 2010.

Interest Income on Private Activity Bonds Issued Before 2009 and After