Mary, a 65 year-old taxpayer, had an adjusted gross income of $150,000 in 20times4. In the same year, Maty also incurred $20,000 in medical expenses. In computing Mary s alternative minimum tax, what will be the adjustment for Mary's medical expeases? a. $3,750 c. $8,750 b. $5,000 d. $11,250 When an entity is respoasible for paying the alternative minimum tax (AMT) due to adjustments related to the timing of income, such as including the excess of market value over option price upon the exercise of qualified stock options for AMT pur-pases, but not until the shares are sold for regular tax purposes, how might that excess tax be recovered? Special tax computations and Accounting periods and methods a. File a claim for a refund in the year paid. b. Carryforward to offset against a future AMT liability only. c. Carryforward to offset against future AMT or regular tax liabilities. d. Carryforward to offset against a future regular tax liability only. 3. Which of the following will increase a taxpayer's alternative minimum taxable income (AMU)? Mary, a 65 year-old taxpayer, had an adjusted gross income of $150,000 in 20times4. In the same year, Maty also incurred $20,000 in medical expenses. In computing Mary s alternative minimum tax, what will be the adjustment for Mary's medical expeases? a. $3,750 c. $8,750 b. $5,000 d. $11,250 When an entity is respoasible for paying the alternative minimum tax (AMT) due to adjustments related to the timing of income, such as including the excess of market value over option price upon the exercise of qualified stock options for AMT pur-pases, but not until the shares are sold for regular tax purposes, how might that excess tax be recovered? Special tax computations and Accounting periods and methods a. File a claim for a refund in the year paid. b. Carryforward to offset against a future AMT liability only. c. Carryforward to offset against future AMT or regular tax liabilities. d. Carryforward to offset against a future regular tax liability only. 3. Which of the following will increase a taxpayer's alternative minimum taxable income (AMU)