Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Distribution from PTEP
Distribution from PTEP
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Sara4
Level 1
10-07-2021
02:43 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Good day!
CFC distributed an amount to the US Shareholder this 2020. The distribution was from the CFC's income previously taxed as GILTI in 2019.
I understand this distribution is nontaxable. But how do you present this in the taxpayer's return, other than in Form 5471? Do I have to show it in Schedule B and mark it as nontaxable somehow?
Thank you for your help.
Labels
