Alternative Minimum Tax—Corporations OMB No. 1545-0175

(including environmental tax) Form 4626

© See separate instructions. Department of the Treasury

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

Name Employer identification number

1

Taxable income or (loss) before net operating loss deduction. (Important: See instructions if the

corporation is subject to the environmental tax.)

1

2 Adjustments:

a Depreciation of tangible property placed in service after 1986 2a

b Amortization of certified pollution control facilities placed in service after 1986 2b

c Amortization of mining exploration and development costs paid or incurred after 1986 2c

2d

Amortization of circulation expenditures paid or incurred after 1986 (personal

holding companies only)

d

e Basis adjustments in determining gain or loss from sale or exchange of property 2e

2f f Long-term contracts entered into after February 28, 1986

g Installment sales of certain property 2g

h Merchant marine capital construction funds 2h

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

2j j Tax shelter farm activities (personal service corporations only)

k Passive activities (closely held corporations and personal service corporations only) 2k

Certain loss limitations 2l l

m Other adjustments 2m

n Combine lines 2a through 2m 2n

3 Tax preference items:

a Depletion 3a

b Tax-exempt interest from private activity bonds issued after August 7, 1986 3b

c Appreciated property charitable deduction 3c

d Intangible drilling costs 3d

e Reserves for losses on bad debts of financial institutions 3e

Accelerated depreciation of real property placed in service before 1987 3f f

g Accelerated depreciation of leased personal property placed in service before

1987 (personal holding companies only) 3g

h Amortization of certified pollution control facilities placed in service before 1987 3h

3i i Add lines 3a through 3h

4 Pre-adjustment alternative minimum taxable income (AMTI). Combine lines 1, 2n, and 3i 4

5 Adjusted current earnings (ACE) adjustment:

5e

6

Combine lines 4 and 5e. If zero or less, stop here (the corporation is not subject to the alternative

minimum tax)

6

7

Alternative tax net operating loss deduction. (Do not enter more than the excess, if any, of:

(a) 90% of line 6, over (b) line 7.)

7

8

Alternative minimum taxable income. Subtract the sum of lines 7 and 8 from line 6

8

9

For Paperwork Reduction Act Notice, see separate instructions. Form 4626 (1992)

Adjustment based on energy preferences. (Do not enter more than 40% of line 6.)

Cat. No. 12955I

9

Enter the corporation’s ACE from line 10 of the worksheet on page 7 of the instructions

Subtract line 4 from line 5a. If line 4 exceeds line 5a, enter the difference as a

negative number (see instructions for examples)

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 5d (even

if line 5b is positive) 

● If you entered a positive number or zero on line 5b, enter the amount from line 5c on line 5e

as a positive amount.

● If you entered a negative number on line 5b, enter the smaller of line 5c or line 5d on line 5e

as a negative amount.

5a

5b

5d

a

b

d

e

% ACE adjustment:

c Multiply line 5b by 75% and enter the result as a positive number 5c
Exemption phase-out computation (if line 10 is $310,000 or more, skip lines 11a and 11b and enter

-0- on line 11c):

11a

Subtract $150,000 from line 10 (if you are completing this line for a member of

a controlled group of corporations, see instructions). If the result is zero or less,

enter -0-

a

b 11b

c

Multiply line 11a by 25%

11c

Exemption. Subtract line 11b from $40,000 (if you are completing this line for a member of a controlled

group of corporations, see instructions). If the result is zero or less, enter -0-

10

Subtract line 11c from line 10. If the result is zero or less, enter -0-

10

Multiply line 12 by 20%

11

12

Alternative minimum tax foreign tax credit. (See instructions for limitations.)

12

13

Tentative minimum tax. Subtract line 14 from line 13

13

14

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

14

15

Alternative minimum tax. Subtract line 16 from line 15. If the result is zero or less, enter -0-. Also

enter the result on the line provided on the corporation’s income tax return (e.g., if you are filing Form

1120 for 1992, enter this amount on line 9a, Schedule J)

15

Environmental tax. Subtract $2,000,000 from line 6 (computed without regard to the corporation’s

environmental tax deduction) and multiply the excess, if any, by 0.12% (.0012). Enter the result here

and on the line provided on the corporation’s income tax return (e.g., if you are filing Form 1120 for

1992, enter this amount on line 9b, Schedule J). If you are completing this line for a member of a

controlled group of corporations, see instructions

16 16

17

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Form 4626 (1992) Page 2

Enter the amount from line 9 (alternative minimum taxable income)

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