Instructions For Schedule O (Form 1120) - 2011 Page 9
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9(c). If the combined AMTI of the
under section 6655(g), those
columns (b) through (e). Provide the
members of the group is at least
component members of a controlled
applicable Internal Revenue Code
$310,000, the corporation is not
group must combine their taxable
section followed by the amount
required to complete columns (c) and
incomes for their tax years that were
apportioned to that member.
(d) of Part IV, since the exemption
subject to the same December 31
Note. Do not include on Schedule O
amount is fully phased out at
testing date. If that amount is at least
an apportionment among the
$310,000. See Allocation of AMT
$1 million for any tax year during the
component members of any
Exemption Amount and the
testing period (as defined in section
deduction for certain depreciable
Reduction of the AMT Exemption
6655(g)(2)(B)(i)), those members
property for which a section 179
Amount, above.
must then divide that $1 million
expense election has been made.
amount equally unless they have an
Column (e). For purposes of
Report this apportionment as required
apportionment plan in effect.
determining whether the component
under section 179. See Regulations
Column (f). Enter each component
members of a controlled group are
section 1.179-2(b)(7).
subject to a penalty for failure to pay
member’s share of any other
the correct amount of estimated tax
tax-benefit items not included in
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