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Reporting Currency Approach

Line by Line

Regular Tax Calculations

  • Federal Tax Current: Tax Provision Report - Federal Tax - Current.
  • Federal FTC: Tax Provision Report - Cash Tax Adjustments.
  • Reclass to FTC C/O: Tax Provision Report - After Tax Temporary Differences identified with Dataset Parameter with FATTD_Prefix.
  • Adjusted Cash Provision: Sum of Federal Tax Current, Federal FTC, and Reclass to FTC C/O.

Alternative Tax Calculation

  • Federal Taxable Income (Pre-NOL): Tax Provision Report - Federal Taxable Income (Pre-NOL).
  • AMT Preference Items: Unit Details AMT Automation - AMT Adjustments.
  • AMTI (pre NOL): Sum of Federal Taxable Income (Pre-NOL) and AMT Preferences Items.
  • AMT NOL (max 90% of AMTI): Unit Details AMT Automation - AMT NOL C/O Balance.
  • Alternative Minimum Taxable Income (AMTI): Sum of AMTI (pre NOL) and AMT NOL (max 90% AMTI).
  • AMT Rate: Unit Details AMT Automation - AMT Rate.
  • AMT Tax (Pre-Credits): AMTI times AMT Rate.
  • AMT FTC: Unit Details AMT Automation - AMT After Tax Adjustments.
  • Tentative Minimum Tax: Sum of AMT (Pre-Credits) and AMT FTC.
  • AMT Liability (Recapture)
    • If the Tentative Minimum Tax line is greater than the Adjusted Cash Provision line, the difference is posted to an After Tax Temporary Difference with the code AMT_SYS. This increases the current tax expense and decreases the deferred tax expense.
    • If the Tentative Minimum Tax line is less than the Adjusted Cash Provision line and there is a beginning balance for the After Tax Temporary Difference with the code AMT_SYS for the parent unit, the difference is posted to an After Tax Temporary Difference with the code AMT_SYS. This decreases the current tax expense and increases the deferred tax expense.
    • When the units in the filing group have different local currencies, the postings are converted to the parent's local currency. The result displays on the report.

Column by Column

A single column displays the calculation for the filing group.

This article applies to:

  • PRODUCT: ONESOURCE Tax Provision