AMT credit

I have a legal situation where a large amount of legal fees from a lawsuit awarding back employee commissions are triggering the AMT. Will those be eligible for the AMT credit?

Jt3151,

Don't you just love the AMT?

Under the normal tax rules, your legal fees are creating a Miscellaneous Deduction.
The large deductions get you into the AMT club.

Some things that can get you into the AMT Club, and not qualify for the AMT Credit are a large number of exemptions or a large itemized state and local tax bill.

Because you have paid AMT in an earlier year, you may qualify for the AMT Credit.
Your large Miscellaneous Deduction would qualify for AMT Credit.
You can claim the AMT Credit when your regular tax is larger than your AMT.
You need to file form 8801 each year to carry your AMT Credit forward to next year if you do not use it this year.