Elijah is single. He has a $12,000 AMT credit from 2020. In 2021, his regular tax liability

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Elijah is single. He has a $12,000 AMT credit from 2020. In 2021, his regular tax liability is $28,000 and his tentative minimum tax is $24,000. Does Elijah owe AMT in 2021? How much (if any) of the AMT credit can Elijah use in 2021?

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South-Western Federal Taxation 2022 Individual Income Taxes

ISBN: 9780357519073

45th Edition

Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman

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Question Posted: Jul 13, 2022 01:14 AM

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Elijah is single. He has a $12,000 AMT credit from 2020. In 2021, his regular tax liability

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Elijah can use AMT in Year 2021 as he has available AMT credit ...View the full answer

South-Western Federal Taxation 2022 Individual Income Taxes

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