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Form 4626 Alternative Minimum Tax—Corporations

 See separate instructions. Department of the Treasury

Internal Revenue Service  Attach to the corporation’s tax return.

Name Employer ide

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

2f f Long-term contracts

g Merchant marine capital construction funds 2g

h Section 833(b) deduction (Blue Cross, Blue Shield, and similar type organizations only) 2h

2

i Tax shelter farm activities (personal service corporations only)

2

j Passive activities (closely held corporations and personal service corporations only)

k Loss limitations 2k

Other adjustments and preferences

Depletion 2

l

m Tax-exempt interest income from specified private activity bonds 2m

n Intangible drilling costs 2n

o 2

3 Pre-adjustment alternative minimum taxable income (AMTI). Combine lines 1 through 2o

4 Adjusted current earnings (ACE) adjustment:

4e

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 page 7 of the instructions) 6

Alternative minimum taxable income. Subtract line 6 from line 5. If the corporation held a residual

interest in a REMIC, see page 7 of the instructions

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For Paperwork Reduction Act Notice, see page 10 of the instructions. Cat. No. 12955I 

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ACE from line 10 of the worksheet on page 11 of the instructions

Subtract line 3 from line 4a. If line 3 exceeds line 4a, enter the difference as a

negative amount. See examples on page 6 of the instructions

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 page 6 of the instructions). Note: You must enter an amount

on line 4d (even if line 4b is positive) 

● If line 4b is zero or more, enter the amount from line 4c

● If line 4b is less than zero, enter the smaller of line 4c or line 4d as a negative amount

4a

4b

4d

a

b

d

e ACE adjustment.

c Multiply line 4b by 75% (.75). Enter the result as a positive amount 4c

Note: See page 1 of the instructions to find out if the corporation is a small corporation exempt

from the alternative minimum tax (AMT) under section 55(e).

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Exemption phase-out (if line 7 is $310,000 or more, skip lines 8a and 8b and enter -0- on line 8c):

8a

Subtract $150,000 from line 7 (if completing this line for a member of a controlled

group, see page 7 of the instructions). If zero or less, enter -0-

a

b 8b

c

Multiply line 8a by 25% (.25)

8c

Exemption. Subtract line 8b from $40,000 (if completing this line for a member of a controlled group,

see page 7 of the instructions). If zero or less, enter -0-

Subtract line 8c from line 7. If zero or less, enter -0-

Multiply line 9 by 20% (.20)

9 9

Alternative minimum tax foreign tax credit (AMTFTC) (see page 7 of the instructions)

10 10

Tentative minimum tax. Subtract line 11 from line 10

11 11

Regular tax liability before all credits except the foreign tax credit and possessions tax credit

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13

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

Form 1120, Schedule J, line 4, or the appropriate line of the corporation’s income tax return

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