Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Foreign entity returns

Beginning Balances - E&P and Taxes for Tax Years 2010 and Later

For Tax Years 2013 and later, separate 959(c)(3) columns are present for U.S. and Foreign Source Income Tracking purposes in the Post 86 E&P and Tax screens.
The data entry screens for the Post-86 E&P and Tax Pools have been redesigned to track details regarding historical changes (adjustments, reductions for actual distributions, reclassifications for inclusions, and reductions for deemed paid credits) made to the original earnings and taxes recorded for a given tax year. A snapshot of the cumulative pool history can reviewed on the new Post-86 E&P Pool Audit Trail and Post-86 Tax Pool Audit Trail reports available under the
Subpart F
 folder.
Pre-87 and Post-86 information is entered into a single
Beginning Balance - E&P and Taxes
 screen for tax year 2009 (and earlier) binders.
Starting with 2010, the
Beginning Balances - E&P and Taxes
 folder accommodates the additional detail you can enter and track for Post-86 Earnings and Profits and Taxes.
  • Post-86 Earnings and Profits
     - Tracks original earnings by year along with any additions or reductions due to adjustments, dividends, reclassifications or deficit processing.
  • Post-86 Taxes
     - Tracks original taxes by year along with any additions or reductions due to deemed paid credits received or paid, and adjustments.
  • Pre-87 E&P and Taxes
     - Tracks remaining balances for earnings and taxes by year along with any adjustments.
  • PTI in US$
     - Tracks remaining US Dollar basis in PTI by basket and category.

This article applies to:

  • PRODUCT: ONESOURCE Income Tax
  • Return type: international

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close