1)

Which of the following amounts generally produces positive AMT adjustments?

a.A deduction for real property taxes.

b.Medical expenses in excess of the 10% AGI floor.

c.Charitable contributions deduction.

d.Only b. and c. are correct. (NOT A RIGHT ANSWER)

e.a., b., and c. are correct

2)

Ashby, who is single and age 30, provides you with the following information from his financial records for 2019.

Regular income tax liability	$78,444
AMTI	525,000
Taxable income	295,000

Calculate his AMT exemption for 2019.

a.$68,025

b.$3,675 (NOT A RIGHT ANSWER)

c.$0

d.$71,700