Question
What is the alternative minimum tax (AMT) consequence when a taxpayer disposes of rental property? Gains or losses on the sale of assets must be
What is the alternative minimum tax (AMT) consequence when a taxpayer disposes of rental property?
Gains or losses on the sale of assets must be attributed to the underlying source on Form 6251.
It may be necessary to recalculate gain or loss due to AMT.
Sales expenses are disallowed when calculating gain or loss for AMT.
Property tax deductions are disallowed when calculating gain or loss for AMT.
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Intermediate Accounting Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian Edition
1119497043, 978-1119497042
