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Old 04-03-2008, 10:22 AM
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How to calculate the NOL for the AMT purposes?

I have a large casualty loss deduction of about $1,000,000 exceeding my yearly income of $300,000: will the NOL amount (for carryover) be different under the AMT from the regular NOL amount? How to calculate the NOL for the AMT purposes? (The regular NOL is calculated using Schedule A of Form 1045 as prescribed by Publication 536). There is something about AMTNOL being limited to 90% of AMT income in IRC sec. 56(d) -- is it relevant to my case?



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