Schedule Q: Line 4 Residual Income Group
Beyond reporting Line 1 Subpart F and Line 3 GILTI high tax amounts in the total row, the system lists Unit detail in the Residual Income Group with related party dividend and Oil and Gas income that was excluded from the GILTI calculations. When determining the individual instance of Schedule Q where amounts should be reported, residual income will always be treated as 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 > Related Party Dividends Plus Section 951A GILTI High Tax Exception Report > Foreign Oil and Gas Income |
Residual Income Group Total Row | Sum the Unit amounts Plus 954(b)(4) high taxed source code amounts removed from the Subpart F Income Group Total (lines 1a-1i) Plus GILTI high taxed amounts removed from the Tested Income Group Total (line 3) |
