All of the following statements concerning the amt as it, Ask an Expert

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All of the following statements concerning the AMT as it applies to individual taxpayers are correct, EXCEPT:

a. Some itemized deductions taken for regular tax purposes must be added back to income when calculating the AMT.

b. Charitable deductions may be claimed in the same manner for regular and AMT tax purposes.

c. Taxpayers are permitted to take the standard deduction for both regular and AMT tax purposes.

d. All changes to itemized deductions when calculating AMT result in a permanent increase in tax.

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Financial Management, Finance

Category:- Financial Management
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