Investment in US Property and PFIC

On the TAS navigation tree, select the
Foreign Entity
folder.
Select
Investment in US Property and PFIC
.
If the Investment in U.S. Property amount has already been computed, select the
Enter Sec 956 if already computed
radio button and enter the current amount in the first field.
Select the
Enter aggregate of investment in U.S. Property
option and let the system compute the investment in U.S. property to enter the quarterly aggregate investment amounts.
Enter the
Adjusted Basis
for the assets for each quarter.
Enter the
Liabilities to which this property is subject
for each quarter.
The Quarterly Average of U.S. Investments field is automatically updated. The system compares this amount to the Section 959(c)(1)(A) earnings and profits to process a deemed paid dividend and deemed paid taxes based on available E&P.
Enter a current year
PFIC Inclusion
amount if applicable.
Select
Save
.

960(c) Reduction of Deemed Paid Taxes (Override)