Does a private equity ISO exercise always result in an AMT carryforward credit (assuming AMT was paid that year)? If not, what are the situations which would block the carryforward credit?
I exercised some ISO options in 2019 and 2020, but neither of those triggered an AMT carryforward credit per form 8801 even though I had to pay AMT through the nose in 2020 (2019 tax year) and now again in 2021 (2020 tax year) per form 6251. I'm afraid I've missed something or was just very tax inefficient and would like to learn how to prevent this in the future.
