How is the alternative minimum tax credit applied in the calculation of the tentative minimum tax (TMT)?
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How is the alternative minimum tax credit applied in the calculation of the tentative minimum tax (TMT)?
a. It is carried forward indefinitely and applied to regular tax only.
b. It is carried back five years and applied to regular tax only.
c. It is carried forward indefinitely and can be applied to regular tax or AMT.
d. It is carried forward five years and applied to regular tax only.
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Related Book For 
South-Western Federal Taxation 2019 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337702966
22nd Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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