If you paid the alternative minimum tax last year, can you restate the year if you had more income this year?

Question

If you paid the alternative minimum tax last year because you had a sizable deduction with little income (MBA), can you restate your prior year taxes to take the sizable deduction this year?

Answer 1

no. if you had a deduction in a year with little income and you were subject to the AMT, you cannot restate this. the deduction can only be taken in the year it was paid.

Answer 2

Income and deductions must be reported in the year when they actually occured, not deferred to other years to lower taxes. So sorry, but no you can't.