taxtipse
Level 1

Form 1120-S (Foreign Transactions)

Can someone clarify what the difference is between "Gross income sourced at shareholder level" vs "Foreign gross income sourced at a corporate level"?

 

I have a client who is a single-owner S-corp who earned income in a foreign country (with taxes withheld). I'm a little confused on which fields to input on Line 14(a-r). Thanks in advance.

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