Enlarge image | SCHEDULE P OMB No. 1545-0123 (Form 1120-F) List of Foreign Partner Interests in Partnerships ▶ Attach to Form 1120-F. Internal Revenue Service Go to Department of the Treasury ▶ www.irs.gov/Form1120F for instructions and the latest information. 2021 Name of corporation (foreign partner) Employer identification number (EIN) Part I List of Foreign Partner Interests in Partnerships (d) For each partnership interest, is the foreign corporation’s distributive share (a) Name of partnership (b) Address (c) EIN ECI, or treated as ECI, in whole or in part, with a U.S. trade or business determined under section 875 (see instructions)? A Yes No B Yes No C Yes No D Yes No Note: If the corporation has more than 4 partnership interests, continue on a separate page. See instructions. Part II Summary of Foreign Partner Income and Expenses From Schedule K-3 (Form 1065) Schedules K-3 A B C D Total 1 Total gross income. Enter the amount from Schedule K-3, Part X, Section 1, line 21, column (a) . . . . . . . 2 Gross ECI—Partnership determination. Enter the sum of Schedule K-3, Part X, Section 1, line 21, column (c) plus column (d) . . . . . . . . . 3 Gross ECI—Partner determination. Enter all applicable amounts from Schedule K-3, Part X, Section 1, column (b) (see instructions) . . . 4 Total deductions and losses. Enter the amount from Schedule K-3, Part X, Section 2, line 24, column (a) . . 5 Total deductions and losses deductible against gross ECI— Partnership determination. Enter the sum of Schedule K-3, Part X, Section 2, line 24, column (c) plus column (d) 6 Total deductions and losses deductible against gross ECI—Partner determination. Enter all applicable amounts from Schedule K-3, Part X, Section 2, column (b) (see instructions) 7 Interest expense directly allocable under Regulations section 1.882-5(a) (1)(ii)(B). (Note: Include the line 7 total on Schedule I, line 22.) . . . . . 8 Interest expense on U.S. booked liabilities as described under Regulations section 1.882-5(d)(2)(vii). Enter the amount from Schedule K-3, Part X, Section 2, line 7, column (b). Include the line 8 total on Schedule I, line 9, column (b) . . . . . . . For Paperwork Reduction Act Notice, see the Instructions for Form 1120-F. Cat. No. 49677Z Schedule P (Form 1120-F) 2021 |
Enlarge image | Schedule P (Form 1120-F) 2021 Page 2 Part III Foreign Partner’s Average Outside Basis Under Regulations sections 1.882-5(b) and 1.884-1(d)(3) Schedules K-3 A B C D Total 9 Section 705 outside basis . . . . 10a Partner’s liabilities included in outside basis under section 752 that give rise to directly allocable interest expense under Regulations section 1.882-5(a) (1)(ii)(B) . . . . . . . . . . b All other liabilities included in partner’s outside basis under section 752 . . c Add lines 10a and 10b . . . . . d Subtract line 10c from line 9 . . . 11 Partner’s liabilities under Regulations section 1.884-1(d)(3)(vi). (Note: Enter the portion of the line 11 total on Schedule I, line 8, column (b) that represents U.S. booked liabilities under Regulations section 1.882-5(d).) 12 Partner’s outside basis under Regulations section 1.884-1(d)(3) (vi). Add lines 10d and 11 . . . . 13 Partner’s outside basis allocable to ECI under Regulations sections 1.884-1(d)(3)(i) and 1.882-5. (Note: The line 13 total should generally be entered on Schedule I, line 5, column (b). However, see the instructions for Schedule I, line 5, column (b) before entering an amount on that line.) . . 14 Check either the “income” box or the “asset” box to indicate the allocation Income Income Income Income method used on line 13 (see Asset Asset Asset Asset instructions) . . . . . . . . Schedule P (Form 1120-F) 2021 |