132k views
5 votes
Kelly has AMT adjustments, tax preferences, or both.

a) True
b) False

User Shhdharmen
by
7.8k points

1 Answer

4 votes

Final answer:

The statement in the question is false. Both AMT adjustments and tax preferences could be applicable for Kelly's tax situation.

Step-by-step explanation:

The statement in the question is false. Kelly may have AMT adjustments, tax preferences, or both. AMT adjustments are used to calculate the Alternative Minimum Tax (AMT), which is a separate tax system with its own set of rules. Tax preferences, on the other hand, refer to certain deductions, credits, or exemptions that reduce a taxpayer's taxable income. So, Kelly could have one or both of these adjustments in their tax situation.

User Amit Meena
by
8.1k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.