The instructions for AMT line 17 (disposition of property) state "If you have a capital loss after refiguring Schedule D for the AMT, apply the $3,000 capital loss limitation separately to the AMT loss. "
On my regular schedule D I have a total capital loss exceeding $3000, so I'll be taking the maximum $3000 deduction against my ordinary income.
Due to selling some stock with a large AMT tax basis I have an even larger loss on my refigured Schedule D for AMT which will require a total negative adjustment of $10K to my AMT.
Based on the instruction of line 17 it seems to me that I can take the -$3000 loss on the 1040 due to my regular schedule D AND also make a -$3000 adjustment on line 17 of my AMT .
Is that correct?
Thanks - Rich