PUBLIC LAW 96-222—APR. 1, 1980
94 STAT. 217
in a preceding or succeeding taxable year under section 904(c)—
26 USC 904.
"(i) the limitation of section 904(a) shall be increased by the amount of the limitation determined under subparagraph (C), and "(ii) any increase under subparagraph (B) shall be taken into account." (C) REGULAR TAX DETERMINED WITHOUT REGARD TO FOREIGN TAX CREDIT ALLOWED AGAINST MINIMUM TAX.—Paragraph (2)
of section 55(b) is amended by adding at the end thereof the 26 USC 55. following new sentence: "For purposes of this paragraph, the amount of the credit allowable under section 33 shall be 26 USC 33. determined without regard to this section." (D) TREATMENT OF ZERO BRACKET AMOUNT.—Subsection (b)
of section 55 (relating to definitions for purposes of alternative minimum tax) is amended by adding at the end thereof the following new paragraph: "(3) TREATMENT OF ZERO BRACKET AMOUNT.—In the case of an individual who does not itemize his itemized deductions, the zero bracket amount shall be treated as a deduction allowed." (E) TREATMENT OF CERTAIN FOREIGN TAXES FOR THE ADJUSTED ITEMIZED DEDUCTION PREFERENCE.—Paragraphs
(I)(A) and (2)(A)(v) of section 57(b) (relating to aSusted 26 USC 57. itemized deductions) are each amended by inserting, and foreign," after "State and local". (F) ADJUSTED ITEMIZED DEDUCTIONS OF ESTATE OR TRUST.—
Subparagraph (A) of section 57(b)(2) (defining adjusted itemized deductions of estate or trust) is amended by striking out "clauses (i) through (vi)" and inserting in lieu thereof "clauses (iii) through (vi)". (G) CARRYOVER OF RESIDENTIAL ENERGY CREDIT.—Para-
graph (3) of section 55(c) is amended by adding at the end 26 USC 55. thereof the following new sentence: "In determining any carryover under subsection 44C(b)(6), a rule 26 USC 44. similar to the rule set forth in subparagraph (A) shall be treated as inserted in this paragraph before subparagraph (A), and the applications of subparagraphs (A), (B), and (C) shall be adjusted accordingly." (H) CT^RICAL AMENDMENTS.—
(i) Subsection (a) of section 55 (relating to alternative minimum tax) is amended by striking out all after paragraph (1) and inserting in lieu thereof the following: "(2) the regular tax for the taxable year, then there is imposed (in addition to all other taxes imposed by this title) a tax equal to the amount of such excess." (ii) Subparagraph (A) of section 55(c)(3) (relating to carryover and carryback of certain credits) is amended by striking out "section 53(c)" and inserting in lieu 26 USC 53. thereof "section 53(b)". (iii) Paragraph (2) of section 443(d) (relating to adjust- 26 USC 443. ment in computing minimum tax for tax preferences) is amended by striking out "in the case of a corporation,". (iv) Paragraph (3) of section 453(c) is amended by 26 USC 453. striking out "section 56" and inserting in lieu thereof (v) Sections 871(b)(l) and 877(b) are each amended by 26 USC 871,877. striking out "section 55" and inserting in lieu thereof "55".
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