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Screen ALAdjC - Alabama Adjustments (1120)

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Schedule A - Additions to Federal Income

State and local income taxes
The data in this statement transfers from the
Taxes and licenses
 statement in federal Screens Inc and H, as well as from taxes entered in federal Screens Farm, Rent, and 4835. To include state and local taxes on Form 20C, Page 2, enter adjustments to state and local income taxes in the
State Amount
 column of the statement.
Federal tax exempt interest
Tax exempt interest and expenses attributable to tax-exempt interest transfer to this statement from the federal return. To include tax-exempt interest and expenses in the return, enter adjustments in the
State Amount
 column of the statement.
Dividends from corporations in which taxpayer owns less than 20% of stock
The data in this statement transfers from corporations in which the taxpayer owns less than 20 percent of stock from Form 1120, Schedule C to the statement. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application displays the modified column in black and will not overwrite the new data with subsequent federal-to-state data transfers.

Schedule A - Deductions from Federal Income

State and local income tax refunds
The application transfers amounts from the
State tax refunds
 statement in federal Screens Inc and H. The application assumes these amounts are not deductible in Alabama. Enter adjustments to state tax refunds in the
State Amount
 column of the statement.
Expenses not deductible on federal return due to federal tax credit
The application transfers the following items to the statement attached to this field: Employment Credit wages; Employer Tip Credit reduction; Research Credit; Disabled Access Credit; Orphan Drug Credit; Credit for Small Employer Pension Startup; Credit for Employer-Provided Childcare; Low Sulfur Diesel Fuel Credit; Qualified Zone Academy Credit; Credit for Small Employer Health Insurance Premiums; and the Energy Efficient Home Credit. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application displays the modified column in black and will not overwrite the new data with subsequent federal-to-state data transfers.
Foreign dividends from corporations in which taxpayer owns more than 20% of stock
The application transfers the amounts for Section 951 dividends from corporations in which taxpayer owns more than 20 percent of stock from Form 1120, Schedule C to the statement attached to this field. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application displays the modified column in black and will not overwrite the new data with subsequent federal-to-state data transfers.
Dividends received from foreign sales corporations
The application transfers the amounts for dividends received from foreign sales corporations from Form 1120, Schedule C to the statement attached to this field. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application displays the modified column in black and will not overwrite the new data with subsequent federal-to-state data transfers.

Schedule E - Federal Income Tax Deduction / (Refund)

Part of federal consolidated return filing separately in Alabama
If the client is part of a federal consolidated return, but filing as a stand-alone client in Alabama, enter
X
 to make Schedule E lines 1-5 calculate on Form 20C.

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