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Distribution from PTEP
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Sara4
Level 1
10-07-2021
02:43 AM
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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.
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