A taxpayer who paid AMT in prior years,but is not subject to the AMT in the current year,may be entitled to an AMT credit against his regular tax liability in the current year.

Question

Quizplus · Accepted Answer

This is true as any amount of AMT paid in prior years that exceeds the regular tax liability can be used as a credit against the regular tax liability in future years when the taxpayer is not subject to AMT.

A Taxpayer Who Paid AMT in Prior Years,but Is Not