Credit Offsets
Only certain tax credits can be used to offset AMT liability. Components of the general business credit cannot be used to offset this tax. In 2012, the only credits that can offset AMT liability include:
- Foreign tax credit.
- Certain business credits. The business credits that can be used to offset AMT in 2012 were not known at the time of publication; check the Supplement for details.
- Certain personal tax credits. The personal credits that can be used to offset AMT in 2012 were not known at the time of publication; check the Supplement for details.
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