[kky617]

I use Roger CPA

The text reads that:

“AMT (Alternative Minimum Tax) is only credited against “Regular Taxes” arising in later years as a result of the “reversal of income differences” (the text talked about the AMT paid as a result of exercising the ISO being used as a credit against the regular tax liability after the stock got sold several years later to avoid taxing the same gain twice).” I think I get up to this part.

But then, it says that:

“There is no AMT credit for taxes paid that are the result of “exclusion preferences and adjustments” (differences between AMTI and regular taxable income that do not reverse) such as private activity bond interest and the various itemized deductions that are not allowed for AMTI purposes.”

What does it mean?

Please help!