Tax Basis Return Mappings

Tax Basis/Return Mapping lines are used to map book/tax differences to the Tax Basis Balance Sheet, the Tax Basis Income Statement, and the tax return compliance software. An existing Tax Basis/Return mapping can be modified. To create a Tax Basis Balance Sheet the accounts must be set up in Manage Trial Balance.

Note: Do not use the Manage Tax Basis page in Administration. This page will be removed in a future release.

Tax Basis/Return Mapping allows dataset-level mapping on the Tax Return Mapping page. The mapping for the Tax Basis Balance Sheet is defined in the provision dataset. The temporary differences are layered onto the Trial Balance Sublines. In the Data Input area, select Administration in the Dataset folder.

The Difference drop-down list displays the Permanent and Temporary Differences that were created in the Administration area. The Debit and Credit drop-down box's display the Trial Balance Sublines created in Manage Trial Balance.

Important: At the Dataset level, you are required to designate two sub-line accounts vs. one at the Administration area. Therefore, the following conversion must be completed if the mappings were set up in the administration area for Manage Trial Balance Mappings:

1.	Complete the appropriate fields on the #MBAL# Map Balance Sheet and #MINC# Map Income Statement sheet in the Import Return Maps template.

3.	Copy the data from the #MBAL# Map Balance Sheet sheet to the #TBM# Tax Basis Mapping sheet in the Import Numbers template.

4.	Add the required data to the #TBM# Tax Basis Mapping sheet.

5.	Save and import the #TBM# Tax Basis Mapping sheet.

•	Map the Tax Return Income Statement by associating a Book Income Statement (Trial Balance SubLines) with the Book Tax Adjustment (activity) (Permanent and Temporary Difference) and the Page 1, Sch M-1 and Sch M-3 tax compliance software codes.

•	Map the Tax Return Balance Sheet by associating a Book Balance Sheet (Trial Balance SubLines) with the Book Tax Adjustment (balances) (Temporary Difference) and the Sch L tax compliance software code.

•	Map the Tax Basis Balance Sheet by associating a Book Balance Sheet (Trial Balance SubLines) with the Book Tax Adjustment (balances) (Temporary Difference).

•	Enter factors (usually 1 and -1) for the P&L, Balance Sheet, and Retained Earnings accounts to adjust the signs of the numbers coming from the system.