Please use theStudent Template Assignment 2template (linked at the bottom of the page) for the assignment below.
Tarass Inc. is an accrual-method calendar-year corporation. Tarass Inc. did not qualify for the domestic production activities deduction. The following information has been provided about the activities occurring in 2013:
Using Excel prepare a reconciliation. Set up the Excel spreadsheet using the example below:
Line Item *a
2013 Taxable Income *b:I OR DOR N
Adjustments OR Preferences*c:
AMTI EFFECTS*d:Positive(P)Negative (N)Either (E)
Adjustments (A)Neither(N)
Preferences (P)
NOTE *a: Line Item is each activity recorded for Tarass in 2013.
NOTE *b: 2013 Taxable Income refers to if the line item would increase decrease or have no effect on Tarasss book income under GAAP. Put an I if the line item would increase 2013 taxable income OR D if the item would decrease 2013 taxable income OR N if the line item would neither increase nor decrease 2013 taxable income.
NOTE *c: Adjustments OR Preferences refers to if the line item is an adjustment or a preference. Please place an A if the line item is an adjustments OR a P if the line item is a preference OR an N if the line item is neither an adjustment nor a preference.
NOTE *d: AMTI Effects refers to if the line item would have a positive negative or no effect on the Alternative Minimum Taxable Income. Please place a (P) for a positive affect OR (N) for a negative effect OR an (E) if the line item could have either a positive or negative effect. If the line item is not applicable to AMTI leave the block blank.
NOTE: The student might want to consult with the IRS website downloading the instructions for Form 4626 @ Form 4626 can be downloaded @

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