worriedmom1, I sincerely appreciate your reply

Honestly, ISO with AMT is really a complicated topic. I really admire you and other ladies, because you undertstand so much.

You might be right, if you don't have AMT liability, you may get AMT credit on that year.

But as you said, my case is a bit different, I still have to pay AMT tax this year, even my AMT cost base is higher now. So, I don't see any AMT credit and no benefit from form 8801.

To answer your question, I guess it is exactly because I still hold a portion of ISO, so I don't see any credit on the portion I sold. But I will possibly have some credit on the portion I am holding.

By the way, do you know in which form the AMT capital loss carryover to 2008 is?