After computing all tax preferences and AMT adjustments,Peter has AMTI of $210,000 in 2016.If Peter is single,what exemption amount can he claim for AMT in 2016?
A)$0.
B)$31,325.
C)$83,800.
D)$53,900.

Question

Quizplus · Accepted Answer

The AMT exemption amount for single filers in 2016 is $53,900. However, Peter's AMTI is $210,000, which is more than the AMT exemption amount. Therefore, Peter cannot claim any AMT exemption.

After Computing All Tax Preferences and AMT Adjustments,Peter Has AMTI