Get 2007 Form 4626. Alternative Minimum Tax--corporations

Filling out the 2007 Form 4626 is essential for corporations subject to the alternative minimum tax. This guide provides a clear, step-by-step approach to assist users in completing the form accurately and efficiently online.

Follow the steps to successfully fill out the form online.

1. Press the ‘Get Form’ button to obtain the form and open it in your editor.
2. Fill in the corporation's name and employer identification number (EIN) at the top of the form.
3. Report the taxable income or loss before any net operating loss deductions. This information is critical for the calculation of alternative minimum tax.
4. Complete the adjustments and preferences section. This includes reporting various items such as depreciation, amortization, and other modifications as specified.
5. Combine all relevant adjustments from lines 1 through 2o to determine your pre-adjustment alternative minimum taxable income (AMTI).
6. Review the adjusted current earnings (ACE) adjustment. Enter the required figures according to the ACE worksheet instructions, including calculations for lines 4a through 4e.
7. Calculate the alternative minimum tax foreign tax credit (lines 11 and 12) to offset possible alternative minimum tax obligations.
8. Determine the final alternative minimum tax by subtracting the regular tax liability from the tentative minimum tax on line 14.
9. Once all sections are completed, save your changes and prepare to download, print, or share the filled-out form as needed.

Complete your document filing process online with confidence today.