Question

True/False

1. The due date for Form 1040 is generally the 15th day of the 3rd month after the end of their tax year.

2. In general, spouses who file separate returns for a given year may elect to change to a joint return by filing an amended joint return but taxpayers may not change from a joint return to separate returns after the due date for the return.

3. The present AMT system operates as a separate tax system, parallel to the regular income tax system.

4. A taxpayer taking the standard deduction will have no adjustments when calculating the AMT.

5. Most taxpayers will not have AMT tax preference items.

6. All regular tax itemized deductions are allowed for AMT purposes.

Answer 1

	explanation
ans 1 false	15th day of fourth month after the end of tax year not 3rd month
ans 2 true	after the due date it cannot be changed
ans 3 true	yes AMT system is a parallel tax system that operateds with regular tax system.
ans 4 false	the standard deduction reduces the tax amount but does not effect AMT
ans 5 true	as the tax preference items are for example exclusions for small business stock, interest on private
	activity bonds. So most taxpayers does not have this
ans 6 false	all regular tax itemwize deduction are not allowed
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