The AMT Estimator report for Provision and Estimated Payments datasets displays the Alternative Minimum Tax (AMT) calculation.

The report only displays when the AMT Automation is selected in Manage Units > More > Other page.

There are two approaches to computing the AMT - Reporting Currency or Local Currency. Be sure to review the calculation to ensure that the proper result is computed.

 

Provision Items

•Current Federal Tax Expense

•Deferred Federal Tax Expense

•Total Tax Provision

•Deferred Tax Asset/Liability

•Effective Tax Rate

 

Report Views

•Defaults to the filing group level calculation of the report details.

 

Line by Line - Local Currency Approach

•Taxable Income (Before NOL Reclass): Tax Provision Report - Federal Taxable Income (Pre-NOL) line.

•AMT Pre-Tax Adjustments: Unit Details AMT Automation - AMT Adjustments.

•Alternative Minimum Taxable Income (AMTI ): Sum of Taxable Income (Before NOL Reclass) and AMT Pre-Tax Adjustments.

•AMT Tax Rate (or max): Unit Details AMT Automation - AMT Tax Rate.

•AMT Tax (Pre-Credits): AMTI times AMT Tax Rate.

•AMT Credits: Unit Details AMT Automation - AMT After Tax Adjustments.

•AMT Tax: Sum of AMT Tax (Pre-Credits) and AMT Credits.

•Cash Provision (Before NOL, AMT Reclass): Tax Provision Report - Cash Provision line minus the NOL Reclass and any AMT reclass in the After Tax Temporary Difference line.

•AMT Reclass: If the AMT Tax line is greater than the Cash Provision (Before NOL, AMT Reclass) line, the difference is recorded. It is posted to the tax provision as a tax adjustment increasing the provision, and as a reclass to an After Tax Temporary Difference.

 

Column by Column

•A single column displays the calculation for the unit of the filing group.