Screen DISC P - Intercompany Transfer Price or Commission (1120-IC-DISC)

IC-DISC Combined Taxable Income

Enter
1
for 50-50 Combined taxable income or
2
for 4% Gross receipts. Enter the code or select the code from the fieldview. If you leave this field blank, the application defaults to the combined taxable income method. If you enter
X
in the
Marginal costing
field on this screen, then you do not need to complete this field since the 50-50 Combined taxable income method is required.
If the IC-DISC chooses to calculate the overall profit percentage under the optional method prescribed in Regulations section 1.994-2(c)(2), enter the profit percentage in this field. The application prints the percentage in Section A-2 of Schedule P. You should only complete this field if you enter
X
in the
Marginal costing
field on this screen.
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