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Posted by leon on December 29, 2007, 12:02 am
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Some questions for those familiar with form 5452 (Corporate Report of
Nondividend Distributions).
The 5452 itself and current year E&P worksheet seem straight forward,
but according to the 5452 instructions, the following additional
supporting info is needed:
(a) "If the corporation was required to complete Schedule M-1 (Form
1120) or Schedule M-3 (Form 1120) for the tax year, also attach a
schedule of the differences between the earnings and profits computation
and the Schedule M-1 or Schedule M-3."
(b) "A year-by-year computation of the accumulated earnings and profits,
and a schedule of differences since the origin of the company"
Questions:
Is there a specific format the schedule of differences (a) must follow ?
Can I just list the comparable lines (E&P worksheet vs M-1) ?
Is the year-by-year AE&P (b) just an E&P worksheet for each prior year ?
tia
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