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Determine the tentative minimum tax base

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Reference no: EM131884843

Question: For 2015, Gold Corporation (a calendar year business) had the following transactions:

Taxable income                                                                 $4,200,000

Accelerated depreciation on pre-1987 real property
(in excess of straight-line depreciation)                                  1,500,500

Excess intangible drilling costs                                                 575,250

AMT NOL deduction                                                               989,570

Assume no ACE adjustment.

a. Determine Gold Corporation's AMTI for 2015.

b. Determine the tentative minimum tax base.

c. Determine the tentative minimum tax.

d. What is the amount of the AMT, if any?

Reference no: EM131884843

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