1. Which of the following is not an adjustment or tax preference item for 2015 for purposes of the individual alternative minimum tax (AMT)?
A. Cash charitable contributions
B. State income tax refunds
C. Certain passive losses
D. Miscellaneous itemized deductions
E. All of these choices are adjustment or tax preference items for AMT.
2. Find the following values assuming a regular, or ordinary, annuity:
a. The present value of $500 per year for ten years at 5 percent
b. The future value of $500 per year for ten years at 5 percent
c. The present value of $800 per year for five years at 6 percent
d. The future value of $800 per year for five years at 6 percent