All of a C Corporation's AMT Is Available for Carryover

question 75

True/False

All of a C corporation's AMT is available for carryover as a minimum tax credit, regardless of whether the adjustments and preferences originate from timing differences or AMT preferences.

---

Definitions:

Appomattox Court House

The site of the surrender of Confederate General Robert E. Lee to Union General Ulysses S. Grant, effectively ending the American Civil War on April 9, 1865.

Ten-Percent Plan

A reconstruction plan proposed by Abraham Lincoln that allowed a rebel state to rejoin the Union once 10% of its voters pledged allegiance to the U.S. and abolished slavery.

Confederate States

The collection of Southern states that seceded from the United States in 1861, leading to the American Civil War, primarily over issues including states' rights and slavery.

Radical Abolitionists

Individuals in the 19th century who advocated for the immediate and complete abolishment of slavery, often taking more extreme measures than other anti-slavery activists.