Advanced Corporate Tax Return Assignment

This is a detailed homework assignment for an Advanced Corporate Tax course, focusing on the preparation of a corporate tax return for Magenta Manufacturing Inc. (MMI). The assignment includes U.S. GAAP financial statements, depreciation schedules, and specific instructions for completing various tax forms such as Form 1120, 1125-A, 4562, 4797, Schedule D, and Form 8903. Students are required to calculate depreciation, gain on sale of assets, charitable contributions, and the section 199 deduction. The assignment also involves reconciling deferred taxes and adhering to specific workpaper referencing guidelines. Check figures are provided to ensure accuracy, and students are instructed to work independently.