Question
For property placed in service after 1998, which of the following is a true statement of the adjustment required for alternative minimum taxable income? The
For property placed in service after 1998, which of the following is a true statement of the adjustment required for alternative minimum taxable income?
The alternative depreciation system of Sec. 168(g) is used in its entirety.
It is the same as for property placed in service prior to 1987.
Section 1250 property and other property depreciated under MACRS using the straight-line method are depreciated using the alternative depreciation system of Sec. 168(g).
For personal property, the alternative depreciation system of Sec. 168(g) is used with the 150%-declining-balance method (switching to straight-line when larger), but the MACRS recovery period that applies for regular tax purposes also applies for AMT purposes.
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