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(A) In general.-–No deduction shall be allowed–
* * * * * * *
(ii) for any taxes described in paragraph
(1), (2), or (3) of section 164(a).
* * * * * * *
(E) Standard deduction and deduction for
personal exemptions not allowed.–-The standard
deduction under section 63(c), the deduction for
personal exemptions under section 151, and the
deduction under section 642(b) shall not be allowed.
(F) Section 68 not applicable.–-Section 68
shall not apply.
When reviewed in its entirety and given full effect, section
56(b) provides for adjustments for taxpayers who either claimed
the standard deduction or elected to itemize deductions for
regular tax purposes. Since AMTI is determined by making
adjustments to regular taxable income, the section 56(b)(1)
adjustments correspond to items that were used to determine the
taxpayer’s regular taxable income. Thus, if the taxpayer claimed
the standard deduction for regular tax purposes, section
56(b)(1)(E) requires an adjustment in arriving at AMTI for the
standard deduction amount. Accordingly, if the taxpayer elected
to itemize deductions, section 56(b)(1) requires adjustments in
arriving at AMTI for certain itemized deductions claimed for
regular tax purposes. Further, if the itemized deductions
actually claimed for regular tax purposes were limited pursuant
to section 68, section 56(b)(1)(F) requires the taxpayer to
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Last modified: May 25, 2011