XPO Corporation has a minimum tax credit of $50,000 from 2017. XPO's tax liability before any MTC carryover is $30,000. What is XPO's minimum tax credit carryover to 2019, if any?

Name: XPO Corporation has a minimum tax credit of $50,000 from 2017. XPO's tax liability before any MTC carryover is $30,000. What is XPO's minimum tax credit carryover to 2019, if any?
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Quizplus · Accepted Answer

The minimum tax credit can be used to offset XPO's regular tax liability in 2018 and XPO gets a refund for 50% of any remaining MTC.

XPO Corporation Has a Minimum Tax Credit of $50,000 from 2017