Get 2012 Schedule P (100w) -- Alternative Minimum Tax And Credit Limitations - Water's-edge Filers

This guide provides clear, step-by-step instructions on completing the 2012 Schedule P (100W) form for alternative minimum tax and credit limitations for water's-edge filers. It is designed to help users accurately fill out the form online and ensure compliance with tax regulations.

Follow the steps to fill out the form correctly online.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. Begin by entering the corporation name and California corporation number at the top of the form.
3. In Part I, line 1, enter the net income or loss after state adjustments. This amount comes from Form 100W, line 18, or Schedule R, line 1c.
4. Proceed to line 2 where you will list any adjustments, including specific items such as depreciation and amortization. Make sure to follow the instructions as needed.
5. Combine the amounts in lines 2a through 2k for line 2l.
6. For line 3, identify any tax preference items, such as depletion and intangible drilling costs, and enter them as per the instructions.
7. Calculate the pre-adjustment alternative minimum taxable income (AMTI) by summing lines 1, 2l, and 3c. Enter the result in line 4a.
8. If applicable, calculate the apportioned pre-adjustment AMTI and enter it in line 4b.
9. Enter adjusted current earnings (ACE) in line 5a and proceed to fill out the necessary subsections.
10. Complete lines 6 through 19, calculating taxes, credits, and allowances as specified.
11. Review your entries and ensure all calculations are accurate, taking care to follow instructions for exemptions and reductions.
12. Once you have completed the form, save your changes. You can either download, print, or share the form as necessary.

Start filing your documents online today to ensure accuracy and compliance.