Minimum tax credits generated by the pre-2018 corporate alternative minimum tax can be carried forward to offset regular tax in post-2017 years.

Question

Quizplus · Accepted Answer

Under the Tax Cuts and Jobs Act (TCJA) of 2017, the corporate alternative minimum tax (AMT) has been repealed. However, any minimum tax credits generated by the pre-2018 corporate AMT can be carried forward and used to offset regular tax liability in post-2017 years. Therefore, the statement is true.

Minimum Tax Credits Generated by the Pre-2018 Corporate Alternative Minimum