Form 4626 – Fill Out and Use This PDF

The Form 4626, known as the Alternative Minimum Tax—Corporations, is a document required by the IRS to calculate the alternative minimum tax (AMT) due from corporations. It ensures that entities contributing a fair share of taxes are highlighted, attaching to the corporation's annual tax return. Special rules apply, such as exemptions for small corporations under section 55(e), adjustments for depreciation, and income adjustments. For guidance on how to accurately complete and submit your corporation's Form 4626, click the button below.

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Form 4626 PDF Details

Understanding the complexities of Form 4626, the Alternative Minimum Tax for Corporations, is essential for businesses navigating the often intricate landscape of corporate taxation. Issued by the Department of the Treasury Internal Revenue Service, this form plays a pivotal role for corporations that are subject to the alternative minimum tax (AMT), a parallel tax system designed to ensure that entities pay at least a minimum amount of tax. The form includes several crucial sections, such as adjustments and preferences that modify taxable income or loss before net operating loss deduction, with specific inclusions like depreciation of post-1986 property, amortization of various costs, and adjustments for long-term contracts or merchant marine capital construction funds, among others. It also elaborates on the calculation of the Alternative Minimum Taxable Income, after allowing for adjustments and exemption phase-outs, ultimately leading to the tentative minimum tax offset by any applicable Alternative Minimum Tax Foreign Tax Credit (AMTFTC). Importantly, Form 4626 guides corporations through these steps, starting with taxable income adjustments and ending with the computation of alternative minimum tax due, spotlighting the special rules for small corporations exempt under section 55(e), thereby offering a comprehensive framework for understanding and filing AMT obligations.

Question	Answer
Form Name	Form 4626
Form Length	1 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	15 sec
Other names	irs form alternative minimum, amt depreciation adjustment, form 4626, irs 4626

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Form 4626		Alternative Minimum Tax—Corporations				OMB No. 1545-0123

					2017
Department of the Treasury		▶ Attach to the corporation’s tax return.
Internal Revenue Service		▶ Go to www.irs.gov/Form4626 for instructions and the latest information.
Name				Employer identification number

	Note: See the instructions to find out if the corporation is a small corporation exempt from the
	alternative minimum tax (AMT) under section 55(e).
1	Taxable income or (loss) before net operating loss deduction		. . . . . .		1
2	Adjustments and preferences:
a	Depreciation of post-1986 property		. . . . . .			2a
b	Amortization of certified pollution control facilities		. . . . . .			2b
c	Amortization of mining exploration and development costs		. . . . . .			2c
d	Amortization of circulation expenditures (personal holding companies only) . . .		. . . . . .			2d
e	Adjusted gain or loss		. . . . . .			2e
f	Long-term contracts		. . . . . .			2f
g	Merchant marine capital construction funds		. . . . . .			2g
h	Section 833(b) deduction (Blue Cross, Blue Shield, and similar type organizations only)					2h
i	Tax shelter farm activities (personal service corporations only)		. . . . . .			2i
j	Passive activities (closely held corporations and personal service corporations only)		. . . . . .			2j
k	Loss limitations		. . . . . .			2k
l	Depletion		. . . . . .			2l
m	Tax-exempt interest income from specified private activity bonds		. . . . . .			2m
n	Intangible drilling costs		. . . . . .			2n
o	Other adjustments and preferences		. . . . . .			2o
3	Pre-adjustment alternative minimum taxable income (AMTI). Combine lines 1 through 2o				3
4	Adjusted current earnings (ACE) adjustment:
a	ACE from line 10 of the ACE worksheet in the instructions		4a
b	Subtract line 3 from line 4a. If line 3 exceeds line 4a, enter the difference as a
	negative amount. See instructions		4b
c	Multiply line 4b by 75% (0.75). Enter the result as a positive amount . . . .		4c
d	Enter the excess, if any, of the corporation’s total increases in AMTI from prior
	year ACE adjustments over its total reductions in AMTI from prior year ACE
	adjustments. See instructions. Note: You must enter an amount on line 4d
	(even if line 4b is positive)		4d
e	ACE adjustment.
	• If line 4b is zero or more, enter the amount from line 4c			. . .		4e
	• If line 4b is less than zero, enter the smaller of line 4c or line 4d as a negative amount }

5	Combine lines 3 and 4e. If zero or less, stop here; the corporation does not owe any AMT . . . .					5
6	Alternative tax net operating loss deduction. See instructions		. . . . . .		6
7	Alternative minimum taxable income. Subtract line 6 from line 5. If the corporation held a residual
	interest in a REMIC, see instructions		. . . . . .		7
8	Exemption phase-out (if line 7 is $310,000 or more, skip lines 8a and 8b and enter -0- on line 8c):
a	Subtract $150,000 from line 7. If completing this line for a member of a
	controlled group, see instructions. If zero or less, enter -0-		8a
b	Multiply line 8a by 25% (0.25)		8b
c	Exemption. Subtract line 8b from $40,000. If completing this line for a member of a controlled group,
	see instructions. If zero or less, enter -0-		. . . . . .			8c
9	Subtract line 8c from line 7. If zero or less, enter -0-		. . . . . .			9
10	Multiply line 9 by 20% (0.20)		. . . . . .			10
11	Alternative minimum tax foreign tax credit (AMTFTC). See instructions		. . . . . .			11
12	Tentative minimum tax. Subtract line 11 from line 10		. . . . . .			12
13	Regular tax liability before applying all credits except the foreign tax credit . . .		. . . . . .		13

14Alternative minimum tax. Subtract line 13 from line 12. If zero or less, enter -0-. Enter here and on

Form 1120, Schedule J, line 3, or the appropriate line of the corporation’s income tax return . . .

For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 12955I

Form 4626 (2017)

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2. Soon after this selection of blanks is completed, go to type in the applicable information in these - a Depreciation of post property, Preadjustment, Adjusted current earnings ACE, a ACE from line of the ACE, Subtract line from line a If line, b c Multiply line b by Enter, Enter the excess if any of the, d e ACE adjustment, b c, a b c d e f g h i j k l m n o, If line b is zero or more enter, Combine lines and e If zero or, Alternative tax net operating loss, a b Multiply line a by, and a b.

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Form 4626 – Fill Out and Use This PDF

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