Page 322 - Small Business IRS Training Guides

Answer to Exercise

Practice Exercise 1

You are auditing a corporation with tax year ending December 31, 2017, and on the corporate return the corporation paid

alternative minimum income tax of $127,000. The corporation is required to pay alternative minimum income tax. Check
True or False.

 True  False

The repeal of the Corporate Alternative Minimum (AMT) does not come into effect until after December 31, 2017.

73233-102 12001-4 Tax Cuts and Jobs Act