Figure 20.2.14-5 ACT/DMI 490 Activity SummarySummary: This is an example of a printout of the ACT/DMI 490 Activity Summary report reflecting the interest computation for the Marin Corporation example.The top of the summary report is titled “490 Activity Summary - Marin Corporation”The next line of the summary report states “FED - **-***9999 1120 Tax Period: 2012/12Below the above taxpayer identifying information is the ACT/DMI module status shown on 5 lines with text on the left and right.Line 1, left states “Run Method: IRS Default”/ Line 1 right states “Module Status: Open/(Open)”Line 2, left states “Interest To: 08212015”/ Line 2, right is "blank"Line 3, left states “GATT Method: Retain Character (New)”/Line 3, right states “GATT Date: 01/01/1995 Amount: $10,000”Line 4, left states “LCU Method: Default IRS”/ Line 4, right states “LCU Interest Date: LCU Interest is OFF”Line 5, left states “Underpay Net Start: All Dates Included”/ Line 5, right states “Overpay Net Start: All Dates Included”The tables below provide the descriptions for each line entry on the 490 Activity Summary report. The interest computation of the 490 Activity Summary has three sections; Section 1 - Provides a list of all the transactions included in the computation; Section 2 - Provides the interest computation details; Section 3 - Provides a recap of the interest computed in the module as compared to interest per the transcript. Amounts enclosed in parentheses represent a credit amount.Date TranscriptDate StartDate Adj/EndDescriptionSusp/EqualPrincipalBalance1022201303152013150 Return Filed & Assessed Tax Liability2,500,100.002,500,100.00Various03152013660 Estimated Tax(3,000,000.00)(499,900.00)0415201203152013716 Generated Overpay Applied from Prior Period(1,155,000.00)(1,654,900.00)0821201503152013300 Additional Tax Assessment By Examination595,890.001,059,110.001022201310132013102220131004 Refund Interest High(4,900.72)4,900.721,054,109.28102220131013201310222013846 Refund of Overpayment(1,654,900.00)1,654,900.00600,790.7208212015670 Subsequent Payment(631,351.04)(30,560.32)Interest Computation DetailInterest Start DateInterest End DateDescriptionAmount FactorInterestBalance03152013150 Return Filed & Assessed Tax Liability2,500,100.00300 Additional Tax Assessment By Examination595,890.00660 Estimated Tax(3,000,000.00)716 Generated Overpay Credit Applied from Prior Period(1,155,000.00)(1,059,010.00)0316201310132013Overpay(10,000.00)0.011683849(116.84)Overpay GATT(1,049,010.00)0.002908311(3,050.85)(1,062,177.69)1014201310222013Overpay Suspended(1,062,177.69)(1,062,177.69)10222013846 Refund of Overpayment1,654,900.001004 Refund Interest High4,900.72597,623.031023201308212015Underpay597,623.030.05643692433,728.01631,351.0408212015670 Subsequent Payment(631,351.04)0.00Account Summary DetailAccount Summary:As ComputedPer TranscriptAdjustmentThe transactions shown below are added for information and are not part of the 490 Activity SummaryDeficiency Interest33,728.0133,728.01TC 340Overpayment Interest(3,167.69)(4,900.72)1,733.03TC 772Principal Balance(35,461.04)Totals (the actual report does not reflect the word “Totals”.30,560.32(4,900.72)0.00