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pdfSchedule J
(Form 1118)
(Rev. December 2020)
Department of the Treasury
Internal Revenue Service
Adjustments to Separate Limitation Income (Loss) Categories for
Determining Numerators of Limitation Fractions, Year-End Recharacterization Balances,
and Overall Foreign and Domestic Loss Account Balances
For calendar year 20
, or other tax year beginning
, 20
▶
, and ending
, 20
Attach to Form 1118.
Employer identification number
Name of corporation
Part I
OMB No. 1545-0123
Adjustments to Separate Limitation Income or (Losses) in Determining Numerators of Limitation Fractions (see instructions)
(i)
Section 951A income
(v)
Other income*
(iii)
(iv)
Passive category income General category income (identify ▶
(ii)
Foreign branch income
(vi)
U.S. income
)
1
2
Income or (loss) before adjustments
Allocation of separate limitation losses:
a Section 951A income
b Foreign branch income
c Passive category income
d General category income
e Other income* (identify ▶
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3
4
5
6
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Subtotal—Combine lines 1 through 2e.
Allocation of overall foreign losses
Allocation of domestic losses
Subtotal—Combine lines 3 through 5.
Recapture of overall foreign losses
Subtotal—Combine lines 6 and 7.
Recharacterization of separate limitation
income:
a Section 951A income
b Foreign branch income
c Passive category income
d General category income
e Other income* (identify ▶
(
Recapture of overall domestic losses
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Numerator of Limitation Fraction—
Combine lines 8 through 10. Enter each
result here and on Schedule B, Part II,
line 7, of corresponding Form 1118.
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* Important: See Computer-Generated Schedule J in instructions.
For Paperwork Reduction Act Notice, see the Instructions for Form 1118.
Cat. No. 10309U
Schedule J (Form 1118) (Rev. 12-2020)
Page 2
Schedule J (Form 1118) (Rev. 12-2020)
Part II
Year-End Balances of Future Separate Limitation Income That Must Be Recharacterized (section 904(f)(5)(C))
(i)
Section 951A income
(v)
Other income*
(iii)
(iv)
Passive category income General category income (identify ▶
(ii)
Foreign branch income
(vi)
U.S. income
)
a
b
c
d
e
Section 951A income
Foreign branch income
Passive category income
General category income
Other income* (identify ▶
)
Part III
1
2
3
4
5
Beginning balance
Current year additions
Current year reductions (other than
recapture)
Current year recapture (from Part I, line 7)
Ending balance—Combine lines 1
through 4.
Part IV
1
2
3
4
5
6
Overall Foreign Loss Account Balances (section 904(f)(1)) Complete for each separate limitation income category.
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Overall Domestic Loss Account Balances (section 904(g)(1))
Beginning balance
Current year additions
Current year reductions (other than
recapture)
(
Subtotal—Combine lines 1 through 3.
Current year recapture (from Part I, line 10)
Ending balance—Subtract line 5 from line 4.
)(
* Important: See Computer-Generated Schedule J in instructions.
Schedule J (Form 1118) (Rev. 12-2020)
| File Type | application/pdf |
| File Title | Schedule J (Form 1118) (Rev. December 2020) |
| Subject | Fillable |
| Author | SE:W:CAR:MP |
| File Modified | 2020-11-10 |
| File Created | 2020-11-10 |