Parallel AMT calculations for investments in S corporations. (alternative minimum tax) From: The Tax Adviser | Date: October 1, 1992| Author: White, Stephen J.; Pratt, James W. | COPYRIGHT 1992 American Institute of CPA's. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

The implications of the alternative minimum tax (AMT) by the Tax Reform Act of 1986 for subchapter S corporations are significant. Two sets of parallel calculations should be made to determine the stockholder's asset basis in the corporation's stock. Two examples are presented that explore the benefits of calculating both regular tax and AMT under circumstances of accumulated earnings and profits as well as losses.

The legislative history of the Tax Reform Act of 1986 (TRA) indicat...

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