Screen 5471-11 - Transactions Between CFC and Shareholders (1065)

Schedule M - Related Party Transactions

Enter
1
to use the average exchange rate or
2
to use the rate entered in
Other exchange rate used for Schedule M (FC Units per 1 USD)
to translate related party transactions entered in foreign currency amounts to U.S. dollars for Schedule M (Form 5471).
If you leave this field blank or enter
2
and no rate is entered in
Other exchange rate used for Schedule M (FC Units per 1 USD)
, the application treats the amounts entered as U.S. dollars for Schedule M (Form 5471).
If you entered
2
in
Exchange rate used for Schedule M
, enter the other exchange rate (xxxx.xxxx) used to translate the foreign currency amounts to U.S. dollars on Schedule M (Form 5471). The other exchange rate should be entered as the number of foreign currency units that equals one unit of U.S. dollars.
If you leave this field and
Exchange rate used for Schedule M
blank, the application treats the amounts entered as U.S. dollars for Schedule M (Form 5471).
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close