Form 1118 print requirements
Form 1118 Foreign Tax Credit—Corporations prints after you select the International or Domestic version, clear prior-version data, and run a full recompute.
Select the Form 1118 version
To print Form 1118, Foreign Tax Credit—Corporations:
- In the top consolidation Organizer, select .
- Select the version of Form 1118 that you want to use:
- To use the Domestic (non-international) version, select the checkbox to show theDomesticversion.
- To use the International version, clear the checkbox.
- SelectTransfer to P&Sto apply the option to the parent, subsidiary, and divisional consolidation members of the top consolidation.
- For each divisional or sub-consolidation, useSubviewto open the consolidation.
- Select theForm 1118 Optiontab, and selectTransfer to P&Sto apply the option to that consolidation's members.
important
Sub-consolidations and divisional consolidations block option transfers from the top consolidation. Use
Subview
to access each sub-consolidation or divisional consolidation, then select Transfer to P&S
to apply the option to its members.Remove domestic Form 1118 data
If you change Form 1118 versions, remove all data from the existing version before you switch versions.
To remove Domestic Form 1118 data, complete these steps for each entity and consolidation, including divisional, sub-, and top consolidations:
- Select .
- Select the checkbox to turn off Form 1118.
- Clear all checkboxes that you selected during the deactivation process.
Remove international Form 1118 data
If you change Form 1118 versions, remove all data from the existing version before you switch versions.
To remove International Form 1118 data, complete these steps in the top consolidation for each legal entity member, including divisional consolidations:
- Select .
- SelectDelete International 1118.
- Clear all checkboxes that you selected during the deactivation process.
important
Turning off or deleting Form 1118 permanently removes the data from the Organizer. After you remove the data, you can't restore it from the Organizer.
Verify settings and print
- UseSubviewto verify that all entities and consolidations use the sameForm 1118 Optionsetting.
- Do a full recompute, then print.
