1120-US: Charitable contributions adjustments calculated on Form 4626 (FAQ)

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Question

How is the charitable contribution adjustment calculated on Form 4626, line 2o, Other adjustments?

Answer

Per the Form 4626, line 2o instructions, AMT adjustments and preferences may affect deductions that are based on an income limit (i.e., charitable contributions). Therefore, UltraTax CS calculates charitable contributions for Form 4626 based on the income limitation and compares that amount to the charitable contribution amount on the return. The calculated difference is reported on Form 4626, line 2o.

Related topic: 1120 frequently asked questions

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