Response to the following :
1. AMT
Explain how the alternative minimum tax (AMT) is computed under the AMT system, and how this calculation differs from the calculation of taxable income under the regular income tax system.
2. AMT
a. How must depreciation expense for real and personal property be determined in computing the alternative minimum tax (AMT)?
b. Explain the types of adjustments and preference items that must be added to or subtracted from regular taxable income in order to compute AMTI ?