USA Form 5452 worksheet


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I am currently filling out Form 5452's Worksheet for Figuring Current Year Earnings and Profits. On line 2 it says: "Federal income taxes per books and tax return". Does this refer to the federal income tax owed for the current year (2019), or does this refer to any federal income tax payments made in 2019 for the year prior (2018)? Thanks!

https://www.irs.gov/pub/irs-access/f5452_accessible.pdf
 
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kirby

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At the top of the form, it asks what calendar year you are filing this for. So once you decide that then that is the "current year" for purposes of the form. Same is true for page 3 - they ask you to fill in the year you want to report.

This is NOT an easy form to complete so consider having a tax pro do this one.
 

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