All of a C 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 preferences.

Question

Quizplus · Accepted Answer

This statement is true. All of a C corporation's AMT (Alternative Minimum Tax) can be carried over as a minimum tax credit, without distinguishing between adjustments and preferences originating from timing differences or AMT preferences. This credit can be applied in future years to reduce regular tax liability.

All of a C Corporation's AMT Is Available for Carryover