Schedule Q: Line 3 GILTI Tested Income Group
Tested income information is reported in the line 3 section of Schedule Q at a unit level. Refer to the
Schedule Q Line 3 Grouping
column on the 5471 Schedule Q Grouping Report for more information regarding the unit breakdown for a divisional consolidation processing Intercompany Transactions at the division level. When determining the individual instance of Schedule Q where amounts should be reported, tested income will always be treated as a foreign source. For the passive basket, the system uses the Withholding Tax Rate selected for Passive Non-Subpart F (full inclusion) source codes on the Binder Properties > International
tab.Schedule Q Field | Data Source |
|---|---|
Unit Name | Entity Properties > Name |
Unit Column i (Country Code) | Binder Properties > Country of Incorporation |
Unit Column ii (Gross Income) | Section 951A GILTI High Tax Exception Report > Tentative Gross Tested Income (FC) |
Unit Column v (Other Interest Expense) | Section 951A GILTI High Tax Exception Report > Interest Expense + Interest Expense Adjustment |
Unit Column vii (Other Expense) | Section 951A GILTI High Tax Exception Report > Other Deductions + Other Deductions Adjustment |
Unit Column x (Other Current Year Taxes) | Section 951A GILTI High Tax Exception Report > Foreign Income Taxes Paid + Foreign Income Taxes Adjustment |
Unit Column xii (Foreign Taxes for which Credit Allowed) | Section 951A GILTI High Tax Exception Report > Total Foreign Income Taxes Paid (US Dollar) |
Unit Column xiii (Average Asset Value) | Interest Apportionment Information Screen > Operating Assets > non-Subpart F source codes if the legal entity is not full inclusion Average Asset Override if not blank OR (Beginning of Year + (End of Year Override or End of Year from Intl Compute)) / 2 |
Unit Column xiv (High Tax Election) | Checked if the Unit is part of a GILTI HTE Tested Unit Country Group that meets the GILTI HTE test |
Tested Income Group Total Row | Sum the Unit amounts (for each column populated) for Units that do not have Column xiv (GILTI HTE) checked |
