Get Column A Al Affiliated Group's Consolidated Totals

Filling out the COLUMN A AL Affiliated Group's Consolidated Totals form is essential for accurately reporting Alabama taxable income for affiliated group members. This guide will provide clear instructions on how to effectively complete the form online, ensuring compliance with Alabama tax regulations.

Follow the steps to fill out the form accurately.

1. Press the ‘Get Form’ button to obtain the form and open it in your online editor.
2. Enter the AL consolidated parent name in the designated field to identify the primary entity of the group.
3. Input the AL consolidated parent FEIN in the provided space to ensure accurate tax identification.
4. Begin filling out Line 1 by entering the federal taxable income from Federal Form 1120, line 30.
5. For Line 2, enter any Federal Net Operating Loss (NOL) that is included in Line 1.
6. Complete Line 3 by providing reconciliation adjustments to Alabama basis as outlined in Schedule A.
7. Calculate Line 4 by adding the amounts from Lines 1, 2, and 3 to determine the federal taxable income adjusted to Alabama basis.
8. For Line 5, enter the net nonbusiness income or loss from Schedule C, line 2, column E.
9. Add Lines 4 and 5 to determine the apportionable income for Line 6.
10. On Line 7, enter the Alabama apportionment factor from line 26 in Schedule D-1.
11. Multiply the value in Line 6 by the factor in Line 7 to obtain the income apportioned to Alabama for Line 8.
12. Enter the net nonbusiness income or loss for Alabama in Line 9 from Schedule C, line 2, column F.
13. Calculate Line 10 by adding Lines 8 and 9 to find the Alabama income before federal income tax deduction.
14. For Line 11, input the federal income tax deduction or refund according to line 7 from Schedule E.
15. Subtract Line 11 from Line 10 to calculate Line 12, resulting in Alabama income before SRLY NOL carryforward.
16. Complete Line 13 by referencing the instructions for the SRLY NOL deduction.
17. Calculate Alabama taxable income for Line 14a by subtracting Line 13 from Line 12.
18. Record the Alabama affiliated group’s consolidated NOL deduction for Line 14b.
19. Finally, calculate Line 14c by subtracting Line 14b from Line 14a; this figure will be carried forward to page 1, line 14 of the consolidated Form 20C.
20. Once all fields are completed, save your changes, download a copy of the form, and prepare for printing or sharing as necessary.

Start filling out the COLUMN A AL Affiliated Group's Consolidated Totals online today to ensure accurate tax reporting.