Instructions For Form 5452 - Corporate Report Of Nondividend Distributions Page 3
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Form 5452 (Rev. 10-2016)
Page
Worksheet for Figuring Current Year Earnings and Profits
Accumulated
Date Incorporated:
Retained Earnings
Earnings and Profits
Earnings and
Shown in Books
Current Year
Key
Method of Accounting:
Profits
Credit
Debit
Credit
Debit
Credit
Balance
Balance forward 12/31/
Year
1
Taxable income* from Form 1120, line 28 (or
comparable line of other income tax return) .
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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)) .
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5
Depreciation adjustment on sale of property
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6
Total itemized expenses from line 5, Schedule M-1
a Travel and entertainment .
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b Life insurance premium
greater than cash
surrender value (CSV) .
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c Nondeductible interest paid for tax-exempt bonds
d Contributions carryover .
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e Other (list separately) .
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7
Total itemized income from line 7, Schedule M-1
a Life insurance proceeds greater than CSV .
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b Bad debt recovery (not charged against taxable
income)
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c Tax-exempt interest on municipal bonds.
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d Other (list separately) .
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8
Refund of prior year federal income taxes .
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9
Reserve for contingencies
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Additional adjustments:
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11
Totals .
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Current Year Earnings and Profits
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Cash Distributions:
From current year earnings and profits .
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%
From accumulated earnings and profits
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Total distribution from earnings and profits .
%
From other distribution .
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%
%
Total distribution .
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100
Total cash distributions .
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Totals
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Current year change .
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Balance forward 12/31/
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5452
* Taxable income before net operating loss deduction and special deductions.
Form
(Rev. 10-2016)
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