Related topics

Corporate Alternative Minimum Tax Worksheet

Adjusted Current Earnings Report

ACE Worksheet: Report Columns

The ACE Worksheet provides supporting information for the Corporate AMT report.

These are the standard columns in the report:

System Number

Extension

Description (first ten characters only)

[Placed] In-Service Date

Class Life

Property Type (PT)

Depreciation Method

Estimated Life (shown in years and months)

The following guidelines provide detail on the nonstandard columns that appear on the report.

Column Notes
AMT Current Year-to-Date This column shows your depreciation expense recomputed for AMT depreciation. This amount is usually the depreciation expense claimed for regular tax purposes, modified by the AMT depreciation Preferences and Adjustments.

AMT Current Year-to-Date includes the 168 Allowance and Section 179 expense, when applicable to the depreciation method, if you selected Yes in the Include Section 168 Allowance and Section 179 in Expense field in the Edit Company window. The Calculation Assumptions section on the last page of the report indicates whether you selected Yes or No in the Edit Company window.

Note: This column equals the Tax book current year-to-date depreciation for any post-98 assets that are depreciated under a straight-line method (MF100 or AD) or a 150% declining-balance method (MT150 or MF150) in the Tax book. These assets do not have an AMT depreciation adjustment.
Post-93 Current Year-to-Date This column shows current year-to-date AMT depreciation for MACRS assets acquired after 1993. (The system uses the information in the AMT book for such property since its ACE Depreciation Adjustment must be zero.)
Post-89, Pre-94, Current Year-to-Date This column shows current year-to-date depreciation in the ACE book for MACRS assets acquired after 1989 and before 1994.
Pre-90 MACRS Current Year-to-Date This column shows current year-to-date depreciation in the ACE book for MACRS assets acquired before 1990.
Pre-90 ACRS Current Year-to-Date This column shows current year-to-date depreciation in the ACE book for ACRS assets acquired before 1990.
Other Property Current Year-to-Date This column shows current year-to-date depreciation in the ACE book for assets using depreciation methods other than ACRS and MACRS that you acquired in any year.