1118 Schedule K Foreign Tax Carryover Reconcilliation Schedule

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SCHEDULE K
(Form 1118)
(Rev. December 2018)

DRAFT AS OF
July 26, 2018
DO NOT FILE
Foreign Tax Carryover Reconciliation Schedule

For calendar year 20

Department of the Treasury
Internal Revenue Service
Name of corporation

, or other tax year beginning

, 20

, and ending

1

Foreign tax carryover from the prior tax
year (enter amounts from the
appropriate columns of line 8 of the
prior year Schedule K (see instructions))

2

Adjustments to line 1 (enter description
—see instructions):
a

Carryback adjustment
(see instructions)

b

Adjustments for section 905(c)
redeterminations (see instructions)

.

OMB No. 1545-0123

separate instructions.
▶ Attach to Form 1118.
▶ Go to www.irs.gov/Form1118 for instructions and the latest information.

Use a separate Schedule K (Form 1118) for each category of income (see instructions).
a Separate Category (enter code—see instructions) . . . . . . . . . . . . . . . . .
b If code 901j is entered on line a, enter the country code for the sanctioned country (see instructions)
c If code RBT is entered on line a, enter the country code for the treaty country (see instructions) . .
Foreign Tax Carryover
Reconciliation

, 20

▶ See

(i)
10th Preceding
Tax Year

(ii)
9th Preceding
Tax Year

(iii)
8th Preceding
Tax Year

.
.
.

.
.
.

.
.
.

(iv)
7th Preceding
Tax Year

.
.
.

.
.
.

.
.
.

.
.
.

.
.
.

.
.
.

.
.
.

(v)
6th Preceding
Tax Year

.
.
.

Employer identification number

.
.
.

.
.
.

.
.
.

▶
▶
▶

(vi)
5th Preceding
Tax Year

(vii)
Subtotal
(add columns (i)
through (vi))

c
d
e
f
g
3

Adjusted foreign tax carryover from
prior tax year (combine lines 1 and 2)

4

Foreign tax carryover used in current
tax year (enter as a negative number)

5

Foreign tax carryover expired unused
in current tax year (enter as a negative
number)

6

Foreign tax carryover generated in
current tax year

7

Actual or estimated amount of line 6 to
be carried back to prior tax year (enter
as a negative number)

8

Foreign tax carryover to the following
tax year. Combine lines 3 through 7.

-0-

For Paperwork Reduction Act Notice, see the Instructions for Form 1118.

Cat. No. 51904R

Schedule K (Form 1118) (Rev. 12-2018)

Page 2

Schedule K (Form 1118) (Rev. 12-2018)
(viii)
Subtotal from page 1
(enter the amounts from
column (vii) on page 1)

Foreign Tax Carryover
Reconciliation (continued)
1

Foreign tax carryover from the prior tax
year (enter amounts from the
appropriate columns of line 8 of the
prior year Schedule K (see instructions))

2

Adjustments to line 1 (enter
description—see instructions):
a

Carryback adjustment
(see instructions)

b

Adjustments for section 905(c)
redeterminations (see instructions)

c
d
e
f
g

(ix)
4th Preceding
Tax Year

(x)
3rd Preceding
Tax Year

(xi)
2nd Preceding
Tax Year

(xii)
1st Preceding
Tax Year

(xiii)
Current
Tax Year

(xiv)
Totals
(add columns (viii)
through (xiii))

DRAFT AS OF
July 26, 2018
DO NOT FILE

3

Adjusted foreign tax carryover from
prior tax year (combine lines 1 and 2).
Include the column (xiv) total on the
current year Form 1118, Schedule B,
Part II, line 5.

4

Foreign tax carryover used in current
tax year (enter as a negative number)

5

Foreign tax carryover expired unused
in current tax year (enter as a negative
number)

6

Foreign tax carryover generated in
current tax year

7

Actual or estimated amount of line 6 to
be carried back to prior tax year (enter
as a negative number)

8

Foreign tax carryover to the following
tax year. Combine lines 3 through 7.
Schedule K (Form 1118) (Rev. 12-2018)