Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Distribution from PTEP
Distribution from PTEP
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Sara4
Level 1
10-07-2021
02:43 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Good day!
CFC distributed an amount to the US Shareholder this 2020. The distribution was from the CFC's income previously taxed as GILTI in 2019.
I understand this distribution is nontaxable. But how do you present this in the taxpayer's return, other than in Form 5471? Do I have to show it in Schedule B and mark it as nontaxable somehow?
Thank you for your help.
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
