Catherine purchased furniture and fixtures 7-year property)for her shop for $80,000 in May.What AMT depreciation adjustment is required for the year?
A)$2,864.
B)$8,568.
C)$11,432.
D)$0.

Question

Quizplus · Accepted Answer

The AMT depreciation adjustment for a 7-year property is 14.29% of the unadjusted basis. Therefore, the AMT depreciation adjustment for the year is $80,000 x 14.29% = $11,432.

Catherine Purchased Furniture and Fixtures 7-Year Property)for Her Shop for $80,000