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LL2
Level 3
Apr 24, 2020 4:07 PM UTC
Question

IRC 965 Transition Tax Statement

Hi there. Kindly assist on how to compute this part of IRC 965 Transition Tax Statement please.

LINE 3: TOTAL DEDUCTION UNDER SECTION 965(A)

PTO does not compute it automatically so if someone can give an illustration or a sample computation, it would be much appreciated.

Thank you!

 

 

This topic has been closed for replies.

4 replies

itonewbie
itonewbie
Level 15
Apr 24, 2020 5:16 PM UTC

Which year's return are you preparing?

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LL2Author
Level 3
Apr 25, 2020 8:47 AM UTC

We are prepping for the year 2017 and 2018

itonewbie
itonewbie
Level 15
Apr 25, 2020 4:19 PM UTC

Are you preparing a F.5471 along with that?  If so, you should run the numbers from what you have for the CFC.

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