Which of the following statements is correct? a. the deduction for personal and dependency exemptions is not permitted in calculating the amt. b. therefore, in converting regular taxable income to amti, a positive adjustment is required. c. to the extent that part of the deduction for personal and dependency exemptions is phased out because the taxpayer’s agi exceeds the threshold amount, the amount of the amt adjustment is smaller than it otherwise would have been. d. to the extent that itemized deductions exceed the standard deduction for regular income tax purposes, a positive amt adjustment is required in converting regular taxable income to amti. e. only a. and b. are correct. a., b., and c. are correct.

A. The deduction for personal and dependency exemptions is not permitted in calculating the AMT

Explanation:

For option B the adjustments stated are not required in converting to AMTI. Also, charitable contribution for AMT is same as that of regular income tax.

step 1: create a plan

step 2: inventory facility equipment/assets

step 3: create preventive maintenance procedures

step 4: create preventive maintenance schedules

step 5: train your maintenanceteam

step 6: analyze – adjust - improve

or

step 1 – pm procedure design: doing the effective things

step 2 – pm procedure scheduling: efficient use of people and resources

step 3 – pm lubrication engineering

step 4 – pm training: back on the chain gang

step 5 – pm program management plan

step 6 – communicate, communicate, communicate