Business, 23.04.2020 19:24, anikabarnhart

When determining his alternative minimum tax, Edward had the following adjustments and preference items:

Personal exemption
$4,050
Itemized deduction for state taxes
1,800
Refund of prior year state income tax
300
Cash contributions
800
Capital gain
700
Depletion in excess of adjusted basis
700

What are the amounts of tax preference items and adjustments to taxable income for alternative minimum tax purposes on Edward's 2017 tax return?

Answers: 2

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When determining his alternative minimum tax, Edward had the following adjustments and preference it...