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euucation.com by access vided below. Additional multiple choice problems are available at com by accessing the Student Practice Portal price is $10. The HHH Company

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euucation.com by access vided below. Additional multiple choice problems are available at com by accessing the Student Practice Portal price is $10. The HHH Company grants Hen e is $10. The market price on the exercise date nly one incentive stock option (ISO) on ja nsequence when Henry exercises the ISO? a. $0 AMT gain. b. $10 AMT gain. c. $23 AMT gain. d. $33 AMT gain. stock option (ISO) on January 10, 2018. The exercise exercise date (June 12, 2019) is $33. What is the AMT 2. Your client, who has a taxable alternative minimum tax (AMT). The following income and deductions were includeu m come of $200,000, is concerned about being subject to the taxable income. Select the one item that may be ncome and deductions were included in computing u that may be added to (or subtracted from regular taxable income in calculating the AMT. a. A long-term capital gain of $90,000. b. A cash contribution to your client's church of $18,000. c. Dividend income of $80,000. d. A state income tax deduction of $8,000. 3. In 2019, Larry (a single taxpayer) has an AMTI of $175,000. What is Larry's AMT exemption this year? a. $0. b. $45,875. c. $71,700. d. $103,300. 4. In 2019, Chel (a surviving spouse has an AMTI of $1,289,100. What is Chel's AMT exemption this year? a. $0. b. $44,575. c. $111,700. d. $1,020,600. 5. George, age 50 AGI of $100,000. W "ge, age 50, has deductible medical expenses of $12,000 under the regular tax system and an $100,000. What are the tax consequences for computing George's AMTI? a. George's AMTI is not affected by his medical expenses. of George's medical expenses must be added back to compute his AMTI. 00 of George's medical expenses must be added back to compute his AMTI. w of George's medical expenses must be deducted to compute his AMTI. b. $300 of George's medical C. $2,500 of George's medical ex d. All of George's m

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