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AMT

   Also found in: Dictionary/thesaurus, Acronyms, Encyclopedia, Wikipedia 0.04 sec.
See Alternative Minimum Tax.
AMT

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* In many situations, a significant difference can occur between S corporation income and loss for regular tax and AMT purposes.
But you don't have to get rid of the AMT entirely to provide mercy for that fellow and others similarly situated.
These timing differences, if related to a specific asset, will cause the asset to have a basis for AMT purposes that differs from that for regular tax purposes.
 
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