Create a transfer mapping chart
This chart maps the income inclusion items to the income statement accounts which you previously marked for international transfer.
note
Under
Unassigned Income or Expense
, item 16 Section 245A Dividend Received Deduction
, item 19 Section 965 Dividend Received Deduction (Cash)
, and item 20 965 Dividend Received Deduction (Noncash)
populate on the Foreign Income Inclusion report. However, since dividend received deductions are calculated in the Organizer and don’t have a TRC for a federal account, dividend received deductions can't be mapped to transfer.- SelectCharts,International, then8865 K-1 Transfer Mapping.
- Enter a name for the new chart.noteYou can create multiple transfer mapping charts to map income inclusion items differently on returns.
- Verify the correct year's selected, and select theFederal Chart of Accounts and Tax Adjustment Chart.
- SelectSave, thenOK.
- SelectClose.
- Open the new transfer mapping chart to edit.
- Select each income inclusion item and drag it to the correct income statement account.
- We recommend you have specific accounts in the federal chart for each type of inclusion even though you can map multiple income inclusion items to the same account in one or more tax adjustments. Don't use them for any other purpose or have opening balances.
- SelectSave, thenClose.
