Which of the common deductions below are allowed for regular tax purposes but not for AMT purposes?
A)The interest deduction for up to $100,000 of home equity debt which is not used to purchase or improve part of a principal residence
B)Cash charitable contributions
C)Moving expenses
D)IRAs

Question

Quizplus · Accepted Answer

The interest deduction for up to $100,000 of home equity debt which is not used to purchase or improve part of a principal residence is allowed for regular tax purposes but not for AMT purposes. The other deductions listed (cash charitable contributions, moving expenses, IRAs) are allowed for both regular tax and AMT purposes.

Which of the Common Deductions Below Are Allowed for Regular