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Carl Noklue, an individual ,has the following for regular tax purposes for 2019: Gross business income $100,000 Depreciation (25,000) Other business expenses: (85000) Regular net
Carl Noklue, an individual ,has the following for regular tax purposes for 2019: Gross business income $100,000 Depreciation (25,000) Other business expenses: (85000) Regular net operating loss $(10,000). The depreciation allowed for purposes of calculating AMT Income is $10,000. Which of the following statements is true regarding ATNOL.
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