| Reconcilation of
Accumulated |
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CLIENT
NAME |
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| Adjustment Account |
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12/31/2005 |
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| Schedule L & M |
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Tax exempt income & expenses
related |
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to
tax exempt income are OAA
adjustments |
| Z:\Website\Business Forms
Website\BUSINESS FORMS & TEMPLATES\TAX
RELATED & TAX PLANNING FORMS\[05 AAA
Reconciliation.xls]AAA REC |
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not AAA adjustments. |
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R/E |
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AAA |
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OAA |
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Sch.
L |
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Sch.
M-2 |
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Sch.
L |
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Sch.
M |
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Adjustments |
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Account |
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Adjustments |
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Account |
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| Line 1 |
Balance @ beginning of year |
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0 |
| Line 2 |
Ordinary Income |
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0 |
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| Line 3 |
Other additions |
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0 |
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Schedule K
income |
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0 |
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0 |
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Tax exempt
income |
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0 |
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0 |
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Dist. From "C"
Earnings |
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0 |
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Dist. In Excess of
AAA |
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Other: |
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Total other additions |
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0 |
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0 |
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0 |
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0 |
| Line 4 |
Subtotal (Line 1,2, & 3) |
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0 |
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0 |
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0 |
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0 |
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| Line 5 |
Distributions |
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0 |
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| Line 6 |
Ordinary loss |
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0 |
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| Line 7 |
Other reductions |
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Schedule K losses
& deductions |
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0 |
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0 |
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Expenses related
to TE income |
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0 |
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0 |
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Timing
differences |
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0 |
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Nondeductible
expenses |
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0 |
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0 |
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Federal taxes
attributed to C corp |
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Other: |
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Total other reductions |
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0 |
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0 |
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0 |
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0 |
| Line 8 |
Subtotal (Line 5,6, & 7) |
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0 |
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0 |
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0 |
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0 |
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| Line 9 |
Line 4 less Line 8 |
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0 |
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0 |
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0 |
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0 |
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0 |
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Permanent differences |
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0 |
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Current timing differences |
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Accumulated timing
differences |
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0 |
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Ending Sch M - AAA Balance |
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These must be equal |
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Book
Basis |
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| AAA W/S & Bal
Sheet Reconciliation |
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| "
C " |
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Basis Calc & AAA W/S
reconciliation |
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| AAA |
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0 |
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AAA |
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OAA |
| OAA |
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0 |
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Total S/H AAA Balances per Basis
W/S |
0 |
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0 |
| UTI |
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0 |
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Balance of Sch M Columns
Above |
0 |
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0 |
| R/E per Bal Sheet |
0 |
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Discrepency |
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0 |
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0 |
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CLIENT
NAME |
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12/31/2005 |
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Schedule K
income: |
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Timing differences: |
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Interest |
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Tax vs. Book depreciation |
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Dividends |
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Tax vs. Book gain/loss |
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Royalities |
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Related party accruals |
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Rental
income |
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Accrued co-op advertising |
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Capital & sec.
1231 gains |
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Foreign Income Exclusion |
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Other: |
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Airplane
rental |
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Accrued warranty |
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Accrued floorplan interest |
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0 |
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S263A |
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Bad
debts |
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Schedule K losses
& deductions: |
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Accrued workers comp |
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Capital & Sec.
1231 losses |
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Accrued year end rebates |
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Rental
loss |
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Accrued SH and related party
interest |
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Charitable
contributions |
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Accrued dealer cruise |
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Sec. 179
expense |
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Accrued audit fee |
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Expense related to
portfolio inc. |
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Accrued co-op receivable |
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Other: |
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Accrued wages S/H |
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0 |
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Tax exempt income: |
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Municipal income |
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Life insurance proceeds |
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Increase in
CSV |
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0 |
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Other: |
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Interest
income |
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Non - deductible
expenses: |
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Extraterritorial Income
Exclusion |
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Meals &
entertainment (50%) |
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0 |
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Shareholder fringe
benefits |
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Penalties |
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Expenses related to tax exempt
income: |
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Other: |
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Officers life insurance
premiums |
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Misc. N/D
expenses |
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Interest attrubutable to muni
income |
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Other exp. attributable to muni
inc. |
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Other: |
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0 |
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0 |
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