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Exercise 17-7 (LO. 5) Complete the following regarding AMT adjustments. Pineview Company, a single member LLC, placed a $5,000 asset that is ineligible for full
Exercise 17-7 (LO. 5) Complete the following regarding AMT adjustments. Pineview Company, a single member LLC, placed a $5,000 asset that is ineligible for full expensing in service on June 1, 2019. The asset has a three-year MACRS class life; no bonus depreciation was taken on this asset. Complete the table below by providing the AMT adjustment, and indicate whether the adjustment increases or decreases taxable income. Year Tax Deduction AMT Deduction AMT Adjustment Increases or Decreases Increases 2019 $1,667 $1,250 $ 2020 2,222 1,875 Increases 2021 740 1,250 $ Decreases 2022 371 625 Decreases
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