Batch import of high tax exception adjustments for GILTI

  1. In a Foreign Entity binder, on the TAS navigation tree, expand
    Foreign Entity
    .
  2. Select
    GILTI (Global Intangible Low Taxed Income)
    , then
    High Tax Exception Adjustments
    . These adjustments don't automatically populate.
  3. You can use Batch Import for the reconciling items between the Subpart F calculated amounts and overrides in the
    Tested Item Sourcing and Translation
    window with one row for each Tested Unit or Subpart F Unit.
  • The Column Translation Rate automatically populates for each added line.
  • The Start Row is the row below the column headers with the 1st entity number.
  • The Batch Import to High Tax Exception Adjustments for:
    • Category
      : International
    • Type
      : GILTI – High Tax Exception Adjustments
    • Import Mode
      : Add and replace entries includes the following columns:
Entity number
Controlled Foreign Corporation
Member Entity Number
Tested Unit
Passive Income Disregarded Payments
Positive amounts decrease Gross Income. Negative amounts increase Gross Income.
General Limitation Income Disregarded Payments
Positive amounts decrease Gross Income. Negative amounts increase Gross Income.
Passive Income Other Deductions Adjustment
Positive amounts increase expenses and decrease Tested Income. Negative amounts decrease expenses and increase Tested Income.
General Limitation Income Other Deductions Adjustment
Positive amounts increase expenses and decrease Tested Income. Negative amounts decrease expenses and increase Tested Income.
Passive Income Interest Expense Adjustment
Positive amounts increase expenses and decrease Tested Income. Negative amounts decrease expenses and increase Tested Income.
General Limitation Income Interest Expense Adjustment
Positive amounts increase expenses and decrease Tested Income. Negative amounts decrease expenses and increase Tested Income.
Passive Income Foreign Income Taxes Adjustment
Positive amounts increase expenses and decrease Tested Income. Negative amounts decrease expenses and increase Tested Income.
General Limitation Income Foreign Income Taxes Adjustment
Positive amounts increase expenses and decrease Tested Income. Negative amounts decrease expenses and increase Tested Income.
Foreign Income Taxes Translation Rate
Only required if the Translation Rate is overridden under Foreign Entity in Current Year Taxes Paid / Accrued.
Only include rows for
Tested Units
with at least 1 amount, other than blank.
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