Can you roll forward AMT taxes
The Alternative Minimum Tax (AMT) itself cannot be "rolled forward," but you may be able to carry forward certain credits related to the AMT. Here’s how it works: ### AMT Credit 1. **Minimum Tax Credit (MTC)**: - If you paid AMT in a prior year, you may be eligible for a Minimum Tax Credit (MTC) in future years. This credit can be used to offset your regular tax liability, but not your AMT liability, in years when your regular tax exceeds your AMT. 2. **Carrying Forward the Credit**: - The MTC can be carried forward indefinitely until it is used up. Each year, you can apply the credit to reduce your regular tax liability, provided your regular tax exceeds your AMT. 3. **Form 8801**: - To calculate and claim the MTC, you need to file Form 8801 (Credit for Prior Year Minimum Tax - Individuals, Estates, and Trusts) with your tax return. This form helps you determine the amount of credit you can use in the current year and any remaining credit to carry forward. ### Important Considerations - **Eligibility**: The MTC is generally available if you paid AMT in a prior year due to timing differences, such as differences in depreciation methods or incentive stock options. - **Limitations**: The credit is limited to the amount by which your regular tax liability exceeds your AMT liability in
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