Question

Complete the following regarding AMT adjustments. Pineview Corporation placed an asset (three-year MACRS class life) costing $5,000 in service on June 1, 2017. Complete the table below by providing the AMT adjustment and indicate whether the adjustment increases or decreases taxable income.

Year Tax Deduction    AMT Deduction    AMT Adjustment    Increases or Decreases

2017    $1,667    $1,250    $ 417    Increases

2018    2,222    1,875    $ 347    Increases

2019    740 1,250    $ -510    Decreases

2020 371 625    $_____    Decreases

Answer 1

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