A Taxpayer Is Paying Alternative Minimum Tax This Year

Multiple Choice

A taxpayer is paying alternative minimum tax this year.The AMT is primarily due to timing differences,resulting in the creation of a minimum tax credit.The taxpayer will apply the minimum tax credit

A) against the current year's AMT liability.
B) against a future year's AMT liability.
C) as a carryback to the preceding two years.
D) against a future year's regular tax liability when regular tax exceeds the tentative minimum tax.