Related topics

Columns on the Adjusted Current Earnings Report

ACE Book Overview

Corporate Alternative Minimum Tax Worksheet

Adjusted Current Earnings Report

ACE and the ACE adjustment, which fall under the AMT rules, are no longer required. AMT is repealed for corporations under the Tax Cuts and Jobs Act of 2017 for tax years beginning January 1, 2018 and later.

The Adjusted Current Earnings Report is not currently required and may have not been required in previous years due to other changes in the tax law.

Purpose

The Adjusted Current Earnings report displays depreciation amounts that have been calculated for the selected assets.

  • To run this report, the ACE book must be open.
  • Before running the Adjusted Current Earnings report, be sure you have calculated depreciation for the ACE book on assets for which you want to run this report. The Run Report Date in the Report Window must match the calculate depreciation through date for the ACE Book. This ensures that the selected assets appear on the report.

For more information see ACE Book Overview.