All of a corporation's AMT is available for carryover as a minimum tax credit regardless of whether the adjustments and preferences originate from timing differences or AMT exclusions.

Question

Quizplus · Accepted Answer

This statement is correct. According to the IRS, "Any AMT credit earned in a prior year is available for use as a credit against regular tax liability in any future year." The source of the AMT (whether it came from timing differences or AMT exclusions) does not affect its availability as a credit.

All of a Corporation's AMT Is Available for Carryover as a Minimum