For AMT purposes,the standard deduction and personal exemptions are:
A)Allowed for AMT purposes.
B)Added as a positive AMT adjustment.
C)Reduced by half for AMT purposes.
D)Subtracted as a negative AMT adjustment.

Question

Quizplus · Accepted Answer

The standard deduction and personal exemptions are not allowed for AMT purposes. Instead, they are added as a positive AMT adjustment, meaning they increase a taxpayer's AMT liability. This is because the AMT eliminates many deductions and exemptions that are allowed on regular tax returns.

For AMT Purposes,the Standard Deduction and Personal Exemptions Are