Recouping AMT credit carryover next year by reducing tax withholding on wages?

[Calvin_and_Hobbes]

I have a $10k AMT carryover credit from my 2022 Federal tax return. How do I get that AMT carryover credit back as a refund next year?

1. Can I use the AMT carryover only to reduce AMT tax due in future years?, or
2. Can I just reduce my withholdings on my wages & use the the AMT carryover credit to make up the shortfall in my income tax withheld?

[Mike9241 · Accepted solution]

generally the credit can only be used to the extent that the regular tax liability exceeds the tentative minimum tax. if you remain in an AMT situation or your regular tax is only slightly greater then the tentative minimum tax the credit may never be used or provide only minimal benefits.  we have no way of knowing if you'll be able to use  the credit in 2023 

[Calvin_and_Hobbes]

@Mike9241 Thanks, great answer!