Alternative Minimum Tax - Corporations

Instructions for Form 4626

• General Instructions
• Changes To Note
• Purpose of Form
• Who Must File
• Exemption for Small Corporations
• Recordkeeping
• Short Period Return
• Allocating Differently Treated Items Between Certain Entities and Their Investors
• Credit for Prior Year Minimum Tax
• Optional Write-Off for Certain Expenditures
• Specific Instructions
• Line 1 - Taxable Income or (Loss) Before Net Operating Loss Deduction
• Line 2 - Adjustments and Preferences
  • Line 2a - Depreciation of Post-1986 Property
    • Do not make a depreciation adjustment on line 2a for:
    • What Depreciation Must Be Refigured for the AMT?
    • What Depreciation Is Not Refigured for the AMT?
    • How Is Depreciation Refigured for the AMT?
    • How Is the AMT Class Life Determined?
    • How Is the Line 2a Adjustment Figured?
  • Line 2b - Amortization of Certified Pollution Control Facilities
  • Line 2c - Amortization of Mining Exploration and Development Costs
  • Line 2d - Amortization of Circulation Expenditures
  • Line 2e - Adjusted Gain or Loss
  • Line 2f - Long-Term Contracts
  • Line 2g - Installment Sales
  • Line 2h - Merchant Marine Capital Construction Funds
  • Line 2i - Section 833(b) Deduction
  • Line 2j - Tax Shelter Farm Activities
  • Line 2k - Passive Activities
    • Tax Shelter Farm Activities That Are Passive Activities
  • Line 2l - Loss Limitations
  • Line 2m - Depletion
  • Line 2n - Tax-Exempt Interest Income From Specified Private Activity Bonds
  • Line 2o - Intangible Drilling Costs
  • Line 2p - Accelerated Depreciation of Real Property (Pre-1987)
  • Line 2q - Accelerated Depreciation of Leased Personal Property (Pre-1987)
  • Line 2r - Other Adjustments
• Line 4 - Adjusted Current Earnings (ACE) Adjustment
• Line 6 - Alternative Tax Net Operating Loss Deduction (ATNOLD)
• Line 7 - Alternative Minimum Taxable Income
• Line 9 - Exemption Phase-Out Computation
• Line 12 - Alternative Minimum Tax Foreign Tax Credit (AMTFTC)
  • Simplified Limitation Election
• Line 14
• ACE Worksheet Instructions
  • Treatment of Certain Ownership Changes
    • Line 2 - ACE Depreciation Adjustment
    • Line 3 - Inclusion in ACE of Items Included in Earnings and Profits (E&P)
    • Line 4 - Disallowance of Items Not Deductible From E&P
    • Line 5 - Other Adjustments
    • Line 6 - Disallowance of Loss on Exchange of Debt Pools
    • Line 7 - Acquisition Expenses of Life Insurance Companies for Qualified Foreign Contracts
    • Line 8 - Depletion
    • Line 9 - Basis Adjustments in Determining Gain or Loss From Sale or Exchange of Pre-1994 Property
• Paperwork Reduction Act Notice.

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