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Subpart F

How the System handles Hovering Deficit Adjustments, Post-86 E&P and Taxes, and Subpart F Calculations

Prior to tax year 2012, the annual hovering deficit offset and the related change to the tax pool was calculated offline and you had to enter adjustments in the
Post-86 E&P and Taxes
 screens. For tax years 2012 and later, you can indicate that an adjustment relates to a hovering deficit offset, by checking the
Hovering Deficit Adjustment
 option. When the system runs Subpart F calculations for a 2012 (or later) binder, amounts from the Hovering Deficit Offset line of the E&P Pools Report will automatically flow to this screen as an adjustment upon rollover to the subsequent year.
When you run Subpart F calculations for a 2012 (or later) binder, amounts from the Taxes Related to Hovering Deficits section of the Post-86 Income Taxes Pool Report will flow to this screen upon rollover to the subsequent year.

This article applies to:

  • Product: ONESOURCE Income Tax
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