CCH Axcess Tax

Average Monthly Value of Investments

The Average Monthly Value of Investments section may be used to enter the appropriate monthly balances in order to calculate the Average Monthly Fair Market Value of Securities and the Average of Monthly Cash Balances for Form 990-PF, Part X, Minimum Investment Return.

Two methods are available for the calculation of these average values. If an entry is made in the Beginning First Month box, the calculation will be done as follows: An average value will be determined for each month by adding the beginning and ending balances and dividing the result by two. The total of these averages will be divided by the number of months in the tax year. When this method is used, the ending balance for each month will also be used as the beginning balance for the next month.

If the Beginning First Month box is left blank, it will be assumed that the individual monthly entries are already average balances. In this case, the total ending monthly balance will be divided by the number of months in the year to compute the overall average.

Entries in the Minimum Investment Return and Qualifying Distributions section > Average Monthly Fair Market Value of Securities - Override and Average of Monthly Cash Balances - Override fields will override these calculations.

Note: The total months in the tax year will be determined by the fiscal year date entries on the Basic Data worksheet > General Information section, Fiscal Year Dates fields. If no entries are made in these fields, the total months will be assumed to be twelve. the Form 990-PF worksheet > Average Monthly Value of Investments section > Number of Months in Year - Override field may be used to override the number of months in the tax year for purposes of this calculation.

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