6. LO.5 Brennen sold a machine used in his sole proprietorship for $180,000. The machine was purchased
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6. LO.5 Brennen sold a machine used in his sole proprietorship for $180,000. The machine was purchased eight years ago for $340,000. It did not qualify for bonus depreciation when it was initially purchased. Depreciation up to the date of the sale for regular income tax purposes was $210,000 and $190,000 for AMT purposes.
What, if any, AMT adjustment arises as a result of the sale of the machine?
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Related Book For
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
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