LIFO Limitation Adjustment
The
LIFO Limitation Adjustment
screen is used to increase or decrease the E&P limitation for purposes of calculating Subpart F income when E&P adjustments for LIFO inventory adjustment (Section 312(n)(4)), installment sales (Section 312(n)(5)) and/or completed contract methods of accounting (Section 312(n)(6)) have been made.Entering LIFO Limitation Adjustments
- On the TAS navigation tree, select theForeign Entity.
- SelectOther Adjustments > LIFO Limitation Adjustment.
- Select one of the listed source codes.
- SelectSave.
