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My historic rehabilitation credit is greater than my tax liability. Can I carry forward any of the unused amount to the next year?

April 26, 2017carry credit forward greater historic liability next year rehabilitation tax unused

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My historic rehabilitation credit is greater than my tax liability. Can I carry forward any of the unused amount to the next year?

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Yes. You may carry forward the unused credit for 15 years to the extent it is not offset by income taxes otherwise due during the intervening years. However, the historic rehabilitation credit cannot be used to offset your alternative minimum tax.