Dawson Inc. had regular tax due of 35.000 for the tax year ending Decembel 31 2018....

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Dawson Inc. had regular tax due of 35.000 for the tax year ending Decembel 31 2018....

Dawson Inc. had regular tax due of 35.000 for the tax year ending Decembel 31 2018. it also had 60.000 of AMT. credit carried forward from prior years and available in 2018. what is the amount of the AMT credit that can be claimed in 2018

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Answer 1

Answer #1

Since the regular tax due in the current year is 35.000 so AMT credit of 35.000 can be claimed in 2018. Balance AMT credit of 25.000 will be carry forward.

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Answer 2

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Dawson Inc. had regular tax due of 35.000 for the tax year ending Decembel 31 2018....

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