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AMT recapture


WITAXLADY

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8 hours ago, DANRVAN said:

You apply the credit to the amount reg tax exceeds AMT....if reg tax is 12,000 and AMT is 10,000 then credit = 2,000.  If zero AMT then zero credit.

 

Please disregard that last part, I made an edit that did not get saved.  It should flow through the form.  If the credit c/f is on line 21, reg tax on line 22, and AMT of zero on line 23, credit should flow to line 25 of 8801 and to schedule 3 of 1040.

 

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On 3/11/2019 at 8:14 PM, WITAXLADY said:

so this year - no AMT but what about the AMT from prior years - whenever I do a 8801 - it always shows -0- credit.. shouldn't they be able to get a credit for the AMT paid earlier?

Keep in mind the credit is only available for deferral items, so not all prior AMT is a available for the credit.

 

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