7) On the sale of an entire interest in a passive activity, any suspended losses cannot be used to offset income from:

A) other passive activities B) Capital Gains C) Interest Income D) Wages and Tips E) It can be used against any or all of te above items.

10) The computation of the alternative minimum tax base begins with regular taxable income before any reductions for personal and dependent exemptions. Which of the following is not part of the formula for computing the alternative minimum tax base?

A) Add regular mortgage interest deduction if used for regular tax. B) Add the real estate tax deduction

C)Add routine misc. itemized deduction (not gambling losses allowed) if used for regular tax.

D)Add back tax exempt interest from a private activity bond not issued in 2009, 2010, or 2011.

11) In 2013, Maria (who files as a head of household) reported regular taxable income (before exemptions) of $122,600. She itemized her deductions, deducting $8,000 in charitable contributions and $3,000 in state income taxes, $10,000 for regular home mortgage interest. She claimed exemptions for herself and her son, Hermes, ($3,800 each). What is Maia's alternative minimum taxable income?

A) $122,600 B) $125,600 C) 133,600 D) 135,600

22) Crouch LLC placed in service on May 19, 2013 machinery and equipment (7-year property) with a basis of $2,350,000. Assume that Crouch has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including