The Falcon Corporation has $68,000 in taxable income for 2017. Its accountant uncovered $87,000 in net positive
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The Falcon Corporation has $68,000 in taxable income for 2017. Its accountant uncovered $87,000 in net positive adjustments and $2,000 of preference items for its alternative minimum taxable income. What are the corporation’s AMTI and AMT for 2017?
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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AMTI 118750 AMT 11750 Tax on 68000 50000 x 15 18000 x 25 1200...View the full answer
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Related Book For 
Taxation For Decision Makers 2019
ISBN: 9781119497288
9th Edition
Authors: Shirley Dennis Escoffier, Karen A. Fortin
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