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Josie had to pay AMT last year. She had to add several items to her regular taxable income in arriving at alternative minimum taxable income.
Josie had to pay AMT last year. She had to add several items to her regular taxable income in arriving at alternative minimum taxable income. Which of the following items results in an AMT credit that can be used to offset future regular tax liability?
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$ of medical expenses in excess of the floor.
$ in interest on private activity municipal bonds.
$ in property taxes paid on her principal residence if paid in advance.
A $ difference between the fair market value of stock and the strike price in the incentive stock option used to purchase the stock.
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