Get 2009 Schedule P (100) -- Alternative Minimum Tax And Credit Limitations Corporations. 2009

Filling out the 2009 Schedule P (100) can be a complex task, but with careful attention to each section, you can effectively manage your corporation's alternative minimum tax and credit limitations. This guide will walk you through the process, ensuring you complete the form accurately and efficiently.

Follow the steps to successfully complete your Schedule P (100) form online.

1. Click the ‘Get Form’ button to access the 2009 Schedule P (100) and open it in your preferred editor.
2. Begin with Part I, where you will enter your corporation name and California corporation number at the top of the form.
3. For line 1, report the net income or loss after state adjustments. Use the appropriate number from Form 100, line 18; Schedule R, line 1c; or Form 109, ensuring you reference the lesser of line 1 or line 2.
4. Proceed to line 2, where you will need to report adjustments such as depreciation and amortization of various assets. Carefully follow the instructions provided for each sub-item from 2a to 2k.
5. Complete line 3 with tax preference items. Report the amounts for depletion, intangible drilling costs, and other items as instructed for lines 3a through 3f.
6. Calculate pre-adjustment alternative minimum taxable income (AMTI) in line 4 by combining line 1, line 2l, and line 3f.
7. In line 5, make the ACE adjustment by entering the appropriate figures for ACE, apportioned ACE, and any necessary calculations as outlined.
8. Continue to line 6, where you will combine line 4b and line 5f to find your adjusted current earnings.
9. For lines 7 through 14, report any applicable deductions and calculate your AMT final figures following the instructions for adjustments and utility of exemptions.
10. Lastly, finalize your form by calculating TMT, regular tax, and AMT in Part I. Once completed, review the form for accuracy.
11. You can now save your changes, download, print, or share the form for filing purposes.

Take the next step and complete your Schedule P (100) form online today.