How do I input Schedule K-1, line 16F in an 1120S return using CCH® ProSystem fx® Tax and CCH Axcess™ Tax worksheet view?
- Article Type:
- How To
- Last Modified:
- 11/05/2022
Objectives
Populate Foreign Taxes paid or Accrued to carry into Schedule K, line 16f and Schedule K-1, line 16F.
Environment
CCH® ProSystem fx® Tax
CCH Axcess™ Tax
S Corporation
1120S
Worksheet View
WSV
CCH Axcess™ Tax
S Corporation
1120S
Worksheet View
WSV
Procedure
- Go to Partners > Schedule K-2 - Distributive Share Items - International Parts 1-V Worksheet.
- Expand Section 10 - Schedule K-2 Part III Section 4 - Foreign Tax Options.
- In Line 1 - Foreign Taxes paid, select the checkbox, if applicable.
- In Line 2 - Foreign Taxes accrued, select the checkbox, if applicable.
- Expand Section 11 - Schedule K-2, Part III Section 4 - Foreign Tax Information.
- Select Detail.
- In Line 1 - Row code, select F4 (Lookup Value) and choose either option 1 or 3 from the list.
- In Line 3 - Country Code, select F4 (Lookup Value) and choose an applicable country code from the list.
- In Line 4 - Type of tax, select F4 (Lookup Value) and choose an applicable tax type from the list.
- In Line 6 - Date tax paid, input an applicable date in format dd/mm/yyyy.
- In Lines 9-19 - General category income - Foreign, input applicable amount.
- Calculate the return.
Additional Information
N/A
| Solution Id | 000185032/000138497 |
|---|---|
| Direct Link |
