2005 Tax Law Changes - Alternative Minimum Tax Foreign Tax Credit (AMTFTC) 90% Limit Repealed
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Summary
For tax years beginning after 2004, the amount of AMTFTC you can use to offset your alternative minimum tax is generally increased to 100% of your pre-credit tentative minimum tax. For tax years beginning before 2005, the amount of AMTFTC was generally limited to 90% of your pre-credit tentative minimum tax.
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