An alternative minimum taxable (AMT) was developed to limit wealthy individuals from taking advantage of tax loopholes.
It is calculated by taking the ordinary income and disallowing items and credits such as state and local tax deductions, interest on private-activity municipal bonds, the bargain element of incentive stock options, foreign tax credits, and home equity loan interest deductions.
This broadens the base of taxable items. Many deductions, such as mortgage home loan interest and charitable deductions, are still allowed under AMT.
The Tax Cuts and Jobs Act of 2017 (TCJA) reduced the fraction of taxpayers who owed the AMT from 3% in 2017 to 0.1% in 2018.
Now, Yes with everything deleted out you will not have any carryforward Capital Loss in 2021.
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