Alternative tax on net capital gain

Assignment Help Accounting Basics

Reference no: EM13142481

Agnes is able to reduce her regular income tax liability from $40,000 to $36,000 as the result of the alternative tax on net capital gain. Agnes' tentative AMT is $50,000.

A) Agnes' tax liability is reduced by $4,000 as the result of the alternative tax calculation on net capital gain.

B) Agnes' AMT is increased by $4,000 as the result of the alternative tax calculation on net capital gain.

C) Agnes' tax liability is $46,000.

D) Agnes' tax liability is $54,000.

E) None of the above.

Reference no: EM13142481

Questions Cloud

Draw the indifference curves map : Draw the indifference curves map corresponding to welfare function (1) with the rate of unemployment on the horizontal axis and the inflation rate on the vertical axis.

What amount should james report as total infrequent losses : A $120,000 write-off of obsolete inventory.? In its 2012 income statement, what amount should James report as total infrequent losses that are not considered extraordinary?

Why is cancer and cellular senescence a representation : Why is cancer and cellular senescence a representation of two common cellular pathways associated with aging?

How many moles of calcium ions are in 1l of cacl2 : how many moles of calcium ions are in 1L of a 2.0M solution of CaCl2

Alternative tax on net capital gain : Agnes is able to reduce her regular income tax liability from $40,000 to $36,000 as the result of the alternative tax on net capital gain. Agnes' tentative AMT is $50,000

Best estimate of stock current market value : Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9.00%. What is the best estimate of the stock's current market ..

How would you record the numbers : how would you record the numbers? What are the journal entries, what is is the impact of depreciation and the end of year impact to the lease.

Primary and secondary : Analyse the effectiveness of primary and secondary research applied to productdevelopment (looking at qualitative and quantitative research).

What are two cancers that occur predominantly in children : What are two cancers that occur predominantly in children(less than 13 years of age), and why is it thought that these cancers occur early in life?

User Account

All Pages