Form 5471 Schedule J Part II - Nonpreviously Taxed E&P Subject to Recapture as Subpart F Income (section 952(c)(2))

We added reporting Subpart F Recapture account activity to Form 5471 in tax year 2018. Enter beginning balances in the
Subpart F Recapture
screen. During Subpart F calculations, these beginning balances are increased for any limitation of current year subpart F to earnings or decreased for any current year recapture. When the
International Computes > Transfer to US5471, US8865, US8858
runs, Subpart F recapture activity is transferred by basket directly to Organizer
Schedule J Part II
as follows:
Tax Return Line
Subpart F Deemed Distribution Report Line
1. Balances at beginning of year
Prior Year Excess Subpart F Income
2. Additions (amounts subject to future recapture)
Current Year Excess Subpart F Income
3. Subtractions (amounts recaptured in current year)
Current Year Recharacterization
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