Generally by how much can the alternative minimum tax foreig

Generally, by how much can the alternative minimum tax foreign tax credit reduce the tentative minimum tax for 2017?

a) not more than 10%

b) not more than 50%

c) not more than 90%

d) 100%

Solution: not more than 90%

Explanation: A taxpayer’s deduction of net operating loss (NOL), generally, couldn’t reduce a taxpayer’s AMTI exceeding 90% of the AMTI (calculated without regard to the NOL deduction)

Generally, by how much can the alternative minimum tax foreign tax credit reduce the tentative minimum tax for 2017? a) not more than 10% b) not more than 50% c

Generally by how much can the alternative minimum tax foreig

Solution

Get Help Now

Submit a Take Down Notice