DanCoc
Level 3
09-30-2024
10:07 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
965 refers to tax that was imposed with TCJA, it taxed undistributed retained earnings of controlled foreign corporations. This tax was assessed on the 2017 tax returns, but the taxpayer was given 8 years to pay it back. There is a Form 965-A that needs to be completed each year, since ProSeries doesn't have this Form available I need to attach as a pdf. However, when they revised Schedule 2, they added a line to list your annual payment, it is for informational purposes only, doesn't get added into the total on Schedule 2. I don't understand why ProSeries can't just make this a line we can data enter into, it is a blocked line.