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46. Fernando, a single taxpayer, has the following tax information for the current year. Charitable contribution of real property with a FMV of $30,000 (adjusted basis $20,000) for which a S30,000 deduction was taken for regular tax. Research and experimental expenses of $50,000 deducted in full for regular tax. Fernandos total tax preferences and adjustments equals A) $5,000. B) $36,000. C) $41,000. D) $45,000.
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Answer #1

The Research and experimental expenses are to be amortized over 10 years

so Amortisation expenses = 50000/10 = $5000

so Tax Preference and adjustments = $50000 - $5000 = $45000

Option D is correct  

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