7. LO.5 Pineview Company, a single member LLC, placed in service on June 1, 2021 a $5,000...

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7. LO.5 Pineview Company, a single member LLC, placed in service on June 1, 2021 a

$5,000 asset. The asset has a three-year MACRS class life and is ineligible for

§ 179 expensing and bonus depreciation. Complete the table below by providing the AMT adjustment, and indicate whether the adjustment increases or decreases taxable income.

Year Tax Deduction AMT Deduction AMT Adjustment Increases or Decreases 2021 $1,667 $1,250 2022 2,222 1,875 2023 740 1,250 2024 371 625

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Essentials Of Taxation Individuals And Business Entities

ISBN: 233160

1st Edition

Authors: Nellen/Young/Raabe/Maloney

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7. LO.5 Pineview Company, a single member LLC, placed in service on June 1, 2021 a $5,000...

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Essentials Of Taxation Individuals And Business Entities

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