F4626-053 e-file error
F4626-053: If Form 4626, 'FPMGMemberInd' has a choice of "Yes" indicated, then there must be at least one 'MemCtrlGrpAndFPMGGroupMemGrp' with 'EntityMemberOf59k2BGroupInd' checked having a non-zero value in 'FinancialStmtIncomeLossAmt' and values in 'GroupMemberName', 'GroupMemberEIN'.
This happens when Form 4626, Question A is answered Yes, but you haven’t completed the Form 4626, Page 7, Part V.
Solution
- To update the information, in Organizer selectTaxes.
- SelectAlternative Minimum Tax, thenForm 4626.
- Go toPart V, select thePart Vdetail link and enter the information.noteThe corporation must complete Part V listing the names EINs, and a separate company financial statement income of loss for each member of a controlled group treated as single employer and foreign-parented multinational group members taken into account in applicable corporation determination under section 59(k)(1)(D).
- Enter the data in a single or top consolidation return.
