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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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This is for Megan C I am having a bad day!!! Which of

Resolved Question:

This is for Megan C

I am having a bad day!!!

Which of the following is true?

AMT NOLs are absorbed only by alternative minimum taxable income
AMT NOLs are absorbed by regular taxable
Both
Neither
Submitted: 2 years ago.
Category: Finance
Expert:  Megan C replied 2 years ago.
Thank you for your question, and thanks for asking for me.

My answer would be AMT NOLs are absorbed by alternative minimum taxable income.

Please let me know if you need anything else ... hope your day gets better

Thanks

Megan
Megan C and other Finance Specialists are ready to help you
Customer: replied 2 years ago.

Could you answer these? I will pay you with a tip.

 

All of the following are nonbusiness deductions except

HSA

alimony paid

moving expenses

IRA deduction

 

Which would not not create an NOL?

sole proptietorship

employee business expense

casualty loss

medical expense

 

Which forms should to attached to Form 1045

 

Schedule C or F

Form 3800

Form 6251

All of the above

Expert:  Megan C replied 2 years ago.
First one is IRA deduction - it's not listed in the list in publication 536 CLICK HERE to read

NOL would not be created by employee business expense

The answer to the last one would be "all of the above"

Thanks again for asking for me :-)

Megan
Megan C and other Finance Specialists are ready to help you
Expert:  Megan C replied 2 years ago.
Thanks again Diana,

We all have bad days just hang in there and if you need anything else please just let me know....K

Megan