Potential loss of contribution carryforwards in AMT. (alternative minimum tax): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on February 1, 1997. The length of the article is 497 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: IRS regulations under IRC section 55 suggest that taxpayers with net operating loss carryovers may have difficulty using charitable contributions to reduce alternative minimum tax (AMT) liability. Under the regulations, a taxpayer with no AMT preferences and loss carryovers exceeding adjusted gross income (AGI) may find that the contribution carryover that would result absent the loss carryover will effectively be converted into a loss carryover. This result has been triggered by the requirement that all AMT calculations be done using AGI or modified AGI.

Citation Details
Title: Potential loss of contribution carryforwards in AMT. (alternative minimum tax)
Author: Harvey J. Berger
Publication:The Tax Adviser (Magazine/Journal)
Date: February 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n2 Page: 81(2)

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