Ia Form 4626 - Iowa Alternative Minimum Tax

Ia Form 4626 - Iowa Alternative Minimum Tax - 2016 Page 2

2016 IA Corporate Form 8827

Iowa Alternative Minimum Tax Credit

https://tax.iowa.gov

Corporation Name: ________________________________________________________________________

FEIN

Ending Tax Period (mm/dd/yy) ______ / _____ / _____

Enter Whole Dollars

Iowa Alternative Minimum Tax from line 18 of the 2015 IA 4626. Enter in

column D of Part I on the IA 148 Tax Credits Schedule .............................. 1.

Total carryforward from line 8 of the 2015 IA8827. Enter in column C of

Part I on the IA 148 Tax Credits Schedule ................................................... 2.

Total available Iowa Alternative Minimum Tax Credit. Add lines 1 and 2 ..... 3.

Enter your current period regular tax liability from line 17, IA 1120.............. 4.

Enter your current period tentative minimum tax from line 16, IA 4626 ....... 5.

Subtract line 5 from line 4. If less than zero, enter zero ............................... 6.

Maximum Iowa Alternative Minimum Tax Credit. Enter the smaller

of line 3 or line 6 .......................................................................................... 7.

Enter sum of other nonrefundable tax credits reported in column F of Part I

on the IA 148 Tax Credits Schedule excluding the Iowa AMT Credit

calculated here ............................................................................................ 8.

Regular tax less other nonrefundable tax credits. Subtract line 8 from

line 4 ............................................................................................................ 9.

10.

Iowa Alternative Minimum Tax Credit. Enter the smaller of line 7 or line 9.

Enter on IA 148 Tax Credits Schedule, column F ........................................ 10.

11.

Carryforward to next tax period. Subtract line 10 from line 3. Enter in

column H of Part I on IA 148 Tax Credits Schedule ................................... 11.

42-003b (08/16/16)

Ia Form 4626 - Iowa Alternative Minimum Tax - 2016 Page 2