Batch import of high tax exception adjustments for GILTI
- In a Foreign Entity binder, on the TAS navigation tree, expandForeign Entity.
- SelectGILTI (Global Intangible Low Taxed Income), thenHigh Tax Exception Adjustments. These adjustments don't automatically populate.
- You can use Batch Import for the reconciling items between the Subpart F calculated amounts and overrides in theTested Item Sourcing and Translationwindow 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.
