Get 2004 Alternative Minimum Tax And Credit Limitations - Corporations. California Schedule P (100)

Filling out the 2004 Alternative Minimum Tax And Credit Limitations - Corporations. California Schedule P (100) can seem daunting. This guide provides clear, step-by-step instructions to help you complete the form accurately and efficiently.

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

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by entering the taxable year at the top of the form. Ensure you input '2004' correctly in the specified field.
3. In the section labeled 'Corporation name', provide the legal name of your corporation as registered.
4. Fill in the California corporation number in the designated space to identify your business entity.
5. Proceed to Part I, where you will calculate the Tentative Minimum Tax (TMT) and Alternative Minimum Tax (AMT) Computation. Start by entering the net income or loss from the required forms.
6. Complete the adjustments section, which includes multiple lines for various types of depreciation and amortization. Follow the instructions provided for each adjustment to ensure accuracy.
7. Calculate the tax preference items by entering the amounts as described in the instructions for depletion, intangible drilling costs, and other relevant items.
8. Combine the results from the previous calculations as indicated to determine the pre-adjustment Alternative Minimum Taxable Income (AMTI).
9. Continue through the steps, making necessary calculations for Adjusted Current Earnings (ACE), reductions, and finally determining the AMTI.
10. In Part II, begin to document credits that can reduce your tax. Input values from previous calculations and any applicable tax credits.
11. Complete Part III, which discusses the credit for any prior year AMT, ensuring that all values are correctly summarized.
12. After entering all necessary information, review each part of the form for accuracy. You can save changes, download, or print the document as required.

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