AMT

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  • November 9, 2013 at 7:54 pm #181659
    rtemplin
    Member

    New to the forum and just starting Regulation. Sorry if I ask a question already asked a 100 times.

    I’m confused on terminology for AMT.

    What is ACE in the formula sense? Is it the calculation AFTER adjustments and preferences? Or is it the value after taking the ACE adjustments? Or is it the ACE adjustment itself?

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  • November 9, 2013 at 9:23 pm #468858
    Anonymous
    Inactive

    regular taxable income +/- adjustments = AMTI

    AMTI +/- adjustments = ACE

    75%*(ACE-AMTI) = adjustment to AMTI

    I'm watching my Ags play miss state so I don't have my notes and don't know how accurate that is.

    Just think of ACE as another adjustment just like how you calculate AMTI.

    November 9, 2013 at 9:23 pm #468920
    Anonymous
    Inactive

    regular taxable income +/- adjustments = AMTI

    AMTI +/- adjustments = ACE

    75%*(ACE-AMTI) = adjustment to AMTI

    I'm watching my Ags play miss state so I don't have my notes and don't know how accurate that is.

    Just think of ACE as another adjustment just like how you calculate AMTI.

    November 10, 2013 at 5:14 pm #468860
    rtemplin
    Member

    Thanks! That's what I thought.

    November 10, 2013 at 5:14 pm #468923
    rtemplin
    Member

    Thanks! That's what I thought.

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