Discussion Question 12-12 (LO. 3, 5) How is it possible that a taxpayer could have...
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Accounting
Discussion Question 12-12 (LO. 3, 5)
How is it possible that a taxpayer could have an AMT NOL larger than their alternative minimum taxable income (AMTI) yet still have a positive tentative minimum tax (TMT) amount?
The reason a taxpayer could have a positive TMT amount in the presence of a significant AMT NOL is that the AMT NOL deduction (ATNOLD) is limited to ____% of AMTI, (after the / prior to the) NOL deduction.
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