1120S Shed K "Foreign Transaction"

This forum deals with all aspects of immigration to Canada, landed immigrant status, work permits, etc.

Moderator: Ron Liberman

Post Reply
taxquestions
Posts: 40
Joined: Tue Dec 18, 2018 6:31 pm

1120S Shed K "Foreign Transaction"

Post by taxquestions »

https://www.irs.gov/pub/irs-pdf/i1120s.pdf

https://www.irs.gov/pub/irs-pdf/f1120s.pdf

On the 1120S Schedule K "Foreign Transactions" line 14 confuses me. Some of my income is foreign sourced (e-commerce).

Is filling this section required? Or only if I am requesting foreign tax credits or one of the shareholders sold personal property?

For example, if my S-Corp had 100k in sales in Canada 100k on line 14G and 14E? This section is incredibly confusing.
Post Reply