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