Identify the tax issue, Identify the tax issue(s) suggested

Identify the tax issue

Reference no: EM13249971

Identify the tax issue(s) suggested by the following situations and state each issue in the form of a question. Do not answer

the question, just identify what the issues are.

1. Several years ago Amusement Corporation purchased heavy machinery for $618,000. It sold the machinery this year for $500,000. Through the date of sale, MACRS depreciation on the machinery was $320,000, while AMT depreciation was $198,000. Amusement has paid AMT in three of its last five years and expects to so again this year.

Reference no: EM13249971

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