2008 AMT carryback
In 2009 the 90% atnold limitation was waived for 2008/2009 tax yrs but it appears that it only applies for carry back of AMT loss to a yr with AMT income. Does it apply to carry back of 2008 AMT income to an AMT loss year?
1
37
aiLsqMQKer34SKacfA8pyY
08/17/10 1:51pm PDT
Viewed by asker 08/17/10 8:27pm PDT
Viewed by asker 08/17/10 8:27pm PDT
6 Replies
ChuckCPA
Questions asked: 268
Questions answered: 725
Points earned: 15650
Questions answered: 725
Points earned: 15650
Accountant Community AllStar
Advisory council of Accountant community power users.
08/17/10 3:20pm PDT
AMTNOLs are the bane of my existence. They are migraine-inducing circular riddles. They are grounds for firing a client. In short, I can't answer your question.
Not again....
sjrcpa
Questions asked: 22
Questions answered: 5559
Points earned: 16634
Questions answered: 5559
Points earned: 16634
Accountant Community AllStar
Advisory council of Accountant community power users.
ProAdvisor
Members of the QuickBooks ProAdvisor Program
Intuit Moderator
Mod/Co-mod
08/17/10 3:27pm PDT
I think you may have a typo. How can you carry back 2008 AMT income?
The more I know, the more I don't know.
08/17/10 5:28pm PDT
Must be part of some of those 2010 tax law changes agmeenterprizeconsulting was asking about.
08/17/10 8:27pm PDT
Latest post
sjrcpa - yes I misspoke. There is a carryforwward of a prior year amt loss to offset 2008 amt income.
