A taxpayer is likely to have a refundable minimum tax credit if she has:
a. Incorrect. While having a large number of dependents can create or trigger AMT, it does not impact the refundable minimum tax credit.
b. Correct. A taxpayer who had a large AMT liability in the past from the exercise of ISOs may qualify for a refundable minimum tax credit.
c. Incorrect. While having a large number of any deferral items may create a minimum tax credit, it does not necessarily result in a refundable minimum tax credit.
d. Incorrect. Exclusion items do not create any minimum tax credit.