Form 5452 - Corporate Report Of Nondividend Distributions 1994 Page 4
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Form 5452 (Rev. 12-94)
Page
Worksheet for Figuring Current-Year Earnings and Profits
Accumulated
Retained Earnings
Earnings and Profits
Earnings and
Shown in Books
Current Year
Date Incorporated:
Profits
Key
Credit
Method of Accounting:
Debit
Credit
Debit
Credit
Balance
Balance forward 12/31/
19
1
Taxable income from Form 1120, line 28 (or
comparable line of other income tax return)
2
Federal income taxes per books and tax return
3
Excess of capital losses over capital gains (tax basis)
4
Depreciation adjustment on earnings and profits
(section 312(k))
5
Depreciation adjustment on sale of property
6
Total itemized expenses from line 5, Schedule M-1
a
Travel and entertainment
b
Life
insurance
premium
greater
than
cash
surrender value (CSV)
c
Nondeductible interest paid for tax-exempt bonds
d
Contributions carryover
e
Other (list separately)
7
Total itemized income from line 7, Schedule M-1
a
Life insurance proceeds greater than CSV
b
Bad debt recovery (not charged against taxable
income)
c
Tax-exempt interest on municipal bonds
d
Other (list separately)
8
Refund of prior year Federal income taxes
9
Reserve for contingencies
10
Additional adjustments:
11
Totals
Current-Year Earnings and Profits
Cash Distributions:
%
From current-year earnings and profits
%
From accumulated earnings and profits
%
Total distribution from earnings and profits
%
From other distribution
100%
Total distribution
Total cash distributions
Totals
Current-year change
Balance forward 12/31/
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