How do I input Schedule K-1, line 16F in an 1120S return using CCH® ProSystem fx® Tax interview 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
1120S
S Corporation
Interview Forms View
IVF

Procedure

  1. Go to Interview Form KF-5 - Foreign Partner Information Part III Section 4.
  2. In Box 30 - Foreign Taxes paid, select the checkbox if applicable.
  3. In Box 31 - Foreign taxes accrued, select the checkbox if applicable.
  4. In Box 40 - Row code, select F4  (Lookup Value) and choose either option 1 or 3 from the list. 
  5. In Box 42 - Country Code, select F4  (Lookup Value) and choose an applicable country code from the list.
  6. In Box 43 - Type of tax, select F4  (Lookup Value) and choose an applicable tax type from the list.
  7. In Box 45 - Date Tax Paid, input an applicable date in format dd/mm/yyyy.
  8. In Box 70-100, input applicable amount of taxes paid according to the income category type.
  9. Calculate the return.

Additional Information

N/A

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