Determine the tentative minimum tax base

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Reference no: EM131221797

For 2016, Apple Corporation (a calendar year integrated oil company) had the following transactions: Taxable income $3,600,000 Regular tax depreciation on realty in excess of ADS (placed in service in 1989) 1,530,000 Excess intangible drilling costs 450,000 Percentage depletion in excess of the property’s adjusted basis 630,000 Assume no ACE adjustment.

a. Determine Apple Corporation’s AMTI for 2016.

b. Determine the tentative minimum tax base

c. Determine the tentative minimum tax.

d. What is the amount of any AMT?

Reference no: EM131221797

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