clamarque
Level 1
12-07-2019
08:31 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My client had a section 965 inclusion amount which was reported on the 2017 tax return. There is no inclusion amount for 2018. Elections were made under section 965(h)(1) to pay in 8 installments and section 965(i)(1) to defer liability of S corporation shareholder.
I am aware of the form 965-A requirements to report payments and outstanding liability with the 2018 tax return.
There was a section 965 inclusion amount in 2017 but none in 2018. Should a form 965 and related schedules be included with the 2018 tax return?
Best Answer Click here
Labels
itonewbie
Level 15
12-07-2019
08:31 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Yes, unless your client qualifies for organization exemption. Details of this filing requirement are explained in the filing instructions and Q&A.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar