Identify which of the following statements is true.
A)The corporate AMT is determined on a separate return basis and then consolidated.
B)All corporations filing consolidated tax returns are subject to the AMT.
C)Alternative minimum tax payments from prior consolidated return years that are attributable to timing or permanent differences can be carried over by the affiliated group and claimed as a credit on current or future consolidated returns.
D)All of the above are false.

Question

Quizplus · Accepted Answer

Alternative minimum tax (AMT) payments from prior consolidated return years can be carried over and claimed as a credit on current or future consolidated returns by the affiliated group.

Identify Which of the Following Statements Is True