Files: Because of AMT adjustments, you may have a different AMT basis incertain property or activities. Because your AMT basis may affect thecomputation of AMT in future tax years, you may need to figure theadjustments that affect basis, even though you do not owe AMT thisyear. You should keep a separate record of your AMT adjusted basis,including an AMT depreciation schedule. Carrybacks and carryovers of certain deductions and credits mayhave to be refigured for AMT purposes. You should keep a separaterecord of these AMT carrybacks and carryovers to assist you inpreparing your return in other years. |