Vito owns and operates a news agency (as a sole proprietorship). During 2015, he incurred expenses of
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Vito owns and operates a news agency (as a sole proprietorship). During 2015, he incurred expenses of $600,000 to increase circulation of newspapers and magazines that his agency distributes. For regular income tax purposes, he deducted the $600,000 in 2015. In addition, he incurred $120,000 in circulation expenditures in 2016 and again deducted the full amount. What AMT adjustments are required in 2015 and 2016 for the circulation expenditures?
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Related Book For 
South Western Federal Taxation 2016 Comprehensive
ISBN: 9781305395114
39th Edition
Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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