Enlarge image | Final K-3 Amended K-3 Schedule K-3 Shareholder’s Share of Income, Deductions, OMB No. 1545-0123 (Form 1120-S) Credits, etc.—International Department of the Treasury For calendar year 2024, or tax year beginning / / 2024 , ending / / 2024 Internal Revenue Service See separate instructions. Information About the Corporation Information About the Shareholder A Corporation’s employer identification number (EIN) C Shareholder’s identifying number B Corporation’s name, address, city, state, and ZIP code D Shareholder’s name, address, city, state, and ZIP code E Check to indicate the parts of Schedule K-3 that apply. Yes No 1 Does Part I apply? If “Yes,” complete and attach Part I . . . . . . . . . . . . . . . . . . . 1 2 Does Part II apply? If “Yes,” complete and attach Part II . . . . . . . . . . . . . . . . . . 2 3 Does Part III apply? If “Yes,” complete and attach Part III . . . . . . . . . . . . . . . . . . 3 4 Does Part IV apply? If “Yes,” complete and attach Part IV . . . . . . . . . . . . . . . . . . 4 5 Does Part V apply? If “Yes,” complete and attach Part V . . . . . . . . . . . . . . . . . . 5 6 Does Part VI apply? If “Yes,” complete and attach Part VI . . . . . . . . . . . . . . . . . . 6 7 Does Part VII apply? If “Yes,” complete and attach Part VII . . . . . . . . . . . . . . . . . 7 For IRS Use Only For Paperwork Reduction Act Notice, see the Instructions for Form 1120-S. www.irs.gov/Form1120S Cat. No. 74747C Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 2 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part I Shareholder’s Share of Corporation’s Other Current Year International Information Check box(es) for additional specified attachments. See instructions. 1. Gain on personal property sale 5. High-taxed income 8. Form 5471 information 11. Entity treatment for certain S corporations 2. Foreign oil and gas taxes 6. Section 267A disallowed deduction 9. Other forms 12. Form 8865 information ✣❈❅❃❋ ✢❏❘ 3. Splitter arrangements 7. Form 8858 information 10. Shareholder loan transactions 13. Other international items 4. Foreign tax translation (attach description and statement) Part II Foreign Tax Credit Limitation Section 1—Gross Income Foreign Source Description (a) U.S. source (b) Foreign branch (c) Passive (d) General (e) Other (f) Sourced by (g) Total shareholder category income category income category income (category code ) 1 Sales A B C 2 Gross income from performance of services A B C 3 Gross rental real estate income A B C 4 Other gross rental income A B C 5 Reserved for future use . . . . . 6 Interest income A B C 7 Ordinary dividends (exclude amount on line 8) A B C Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 3 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part II Foreign Tax Credit Limitation (continued) Section 1—Gross Income (continued) Foreign Source Description (a) U.S. source(b) Foreign branch (c) Passive (d) General (e) Other (f) Sourced by (g) Total shareholder category income category income category income (category code ) 8 Qualified dividends A B C 9 Reserved for future use . . . . . 10 Royalties and license fees A B C 11 Net short-term capital gain A B C 12 Net long-term capital gain A B C 13 Collectibles (28%) gain A B C 14 Unrecaptured section 1250 gain A B C 15 Net section 1231 gain A B C Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 4 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part II Foreign Tax Credit Limitation (continued) Section 1—Gross Income (continued) Foreign Source Description (a) U.S. source(b) Foreign branch (c) Passive (d) General (e) Other (f) Sourced by (g) Total shareholder category income category income category income (category code ) 16 Section 986(c) gain . . . . . . 17 Section 987 gain . . . . . . . 18 Section 988 gain . . . . . . . 19 Section 951(a) inclusions A B C 20 Other income (see instructions) A B C 21 Section 951A(a) inclusions (see instructions) . . . . . . . . 22 Reserved for future use A B C 23 Reserved for future use A B C 24 Total gross income (combine lines 1 through 23) . . . . . . . . A B C Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 5 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part II Foreign Tax Credit Limitation (continued) Section 2—Deductions Foreign Source Description (a) U.S. source(b) Foreign branch (c) Passive (d) General (e) Other (f) Sourced by (g) Total shareholder category income category income category income (category code ) 25 Expenses allocable to sales income . 26 Expenses allocable to gross income from performance of services . . . 27 Net short-term capital loss . . . . 28 Net long-term capital loss . . . . 29 Collectibles loss . . . . . . . 30 Net section 1231 loss . . . . . 31 Other losses . . . . . . . . 32 Research & experimental (R&E) expenses A SIC code: B SIC code: C SIC code: 33 Allocable rental expenses— depreciation, depletion, and amortization 34 Allocable rental expenses—other than depreciation, depletion, and amortization 35 Allocable royalty and licensing expenses—depreciation, depletion, and amortization . . . . . . . 36 Allocable royalty and licensing expenses—other than depreciation, depletion, and amortization . . . 37 Depreciation not included on line 33 or line 35 . . . . . . . . . 38 Charitable contributions . . . . 39 Interest expense specifically allocable under Regulations section 1.861-10(e) 40 Other interest expense specifically allocable under Regulations section 1.861-10T . . . . . . . . 41 Other interest expense—business . 42 Other interest expense—investment . 43 Other interest expense—passive activity 44 Section 59(e)(2) expenditures, excluding R&E expenses on line 32 . 45 Foreign taxes not creditable but deductible . . . . . . . . Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 6 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part II Foreign Tax Credit Limitation (continued) Section 2—Deductions (continued) Foreign Source Description (a) U.S. source (b) Foreign branch (c) Passive (d) General (e) Other (f) Sourced by (g) Total shareholder category income category income category income (category code ) 46 Section 986(c) loss . . . . . . 47 Section 987 loss . . . . . . . 48 Section 988 loss . . . . . . . 49 Other allocable deductions (see instructions) . . . . . . . . 50 Other apportioned share of deductions (see instructions) . . . 51 Reserved for future use . . . . . 52 Reserved for future use . . . . . 53 Reserved for future use . . . . . 54 Total deductions (combine lines 25 through 53) . . . . . . . . 55 Net income (loss) (subtract line 54 from line 24) . . . . . . . . Part III Other Information for Preparation of Form 1116 Section 1—R&E Expenses Apportionment Factors Foreign Source (e) Other Description (a) U.S. source (b) Foreign branch (c) Passive category (d) General category (f) Sourced by (g) Total (category code ) shareholder category income income income (country code ) 1 Gross receipts by SIC code A SIC code: B SIC code: C SIC code: D SIC code: E SIC code: F SIC code: 2 Exclusive apportionment with respect to total R&E expenses entered on Part II, line 32. A R&E expense with respect to activity performed in the United States (i) SIC code: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2A(i) (ii) SIC code: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2A(ii) (iii) SIC code: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2A(iii) B R&E expense with respect to activity performed outside the United States (i) SIC code: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2B(i) (ii) SIC code: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2B(ii) (iii) SIC code: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2B(iii) Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 7 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part III Other Information for Preparation of Form 1116 (continued) Section 2—Interest Expense Apportionment Factors Foreign Source (e) Other Description (a) U.S. source (b) Foreign branch (c) Passive category (d) General category (f) Sourced by (g) Total (category code ) shareholder category income income income (country code ) 1 Total average value of assets . . . 2 Reserved for future use . . . . . 3 Assets attracting directly allocable interest expense under Regulations section 1.861-10(e) . . . . . . 4 Other assets attracting directly allocable interest expense under Regulations section 1.861-10T . . 5 Assets excluded from apportionment formula . . . . . . . . . 6a Total assets used for apportionment (subtract the sum of lines 3, 4, and 5 from the sum of lines 1 and 2) . . . b Assets attracting business interest expense . . . . . . . . . c Assets attracting investment interest expense . . . . . . . . . d Assets attracting passive activity interest expense . . . . . . . 7 Basis in stock of 10%-owned noncontrolled foreign corporations (see attachment) . . . . . . . 8 Basis in stock of CFCs (see attachment) Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 8 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part III Other Information for Preparation of Form 1116 (continued) Section 3—Foreign Taxes (b) Section 951A category income (c) Foreign branch category income Description (a) Type of taxU.S. Foreign U.S. Foreign Shareholder 1 Direct (section 901 or 903) foreign taxes: Paid Accrued A B C D E F 2 Reduction of taxes (total) A Taxes on foreign mineral income . . . . . B Reserved for future use . . . . . . . . C International boycott provisions . . . . . D Failure-to-file penalties . . . . . . . . E Taxes with respect to splitter arrangements . . F Taxes on foreign corporate distributions . . . G Other . . . . . . . . . . . . . 3 Foreign tax redeterminations A Related tax year: Date tax paid: Contested tax . . . . . . . . . B Related tax year: Date tax paid: Contested tax . . . . . . . . . C Related tax year: Date tax paid: Contested tax . . . . . . . . . 4 Reserved for future use . . . . . . . . 5 Reserved for future use . . . . . . . . 6 Reserved for future use . . . . . . . . Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 9 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part III Other Information for Preparation of Form 1116 (continued) Section 3—Foreign Taxes (continued) (d) Passive category income (e) General category income (f) Other (g) Total U.S. Foreign Shareholder U.S. Foreign Shareholder (category code ) 1 A B C D E F 2 A B C D E F G 3 A B C 4 5 6 Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 10 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part IV Distributions From Foreign Corporations to S Corporation (a) Name of distributing foreign corporation (b) EIN or (c) Date of distribution (d) Functional currency of (e) Amount of distribution reference ID number distributing foreign corporation in functional currency A B C D E F G H I J K L M N O (f) Amount of E&P distribution (g) Spot rate (functional (h) Amount of distribution (i) Amount of E&P distribution (j) Qualified foreign (k) Reserved for in functional currency currency to U.S. dollars) in U.S. dollars in U.S. dollars corporation future use A B C D E F G H I J K L M N O Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 11 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part V Information on Shareholder’s Section 951(a)(1) and Section 951A Inclusions a Separate category (code) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b If box is checked, this is completed with respect to U.S. source income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (d) Shareholder’s share (a) Name of CFC (b) EIN or (c) Ending of CFC of CFC items through (e) Shareholder’s share (f) Shareholder’s section (g) Tested income reference ID number tax year their ownership in of subpart F income 951(a)(1)(B) inclusion its corporation (“shareholder’s share”) A B C D E F G H I J K 1 Shareholder’s total (sum for all CFCs) . . . . . . . . . . . . . . . . . . . . . . . (h) Tested loss (i) Shareholder’s share (j) Shareholder’s share (k) Shareholder’s share of (l) Shareholder’s share of (m) Shareholder’s share of (n) Shareholder’s share of of tested income of tested loss Qualified Business Asset the tested loss tested interest income tested interest expense Investment (QBAI) QBAI amount A ( ) ( ) ( ) B ( ) ( ) ( ) C ( ) ( ) ( ) D ( ) ( ) ( ) E ( ) ( ) ( ) F ( ) ( ) ( ) G ( ) ( ) ( ) H ( ) ( ) ( ) I ( ) ( ) ( ) J ( ) ( ) ( ) K ( ) ( ) ( ) 1 ( ) ( ) ( ) Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 12 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part VI Information Regarding Passive Foreign Investment Companies (PFICs) Section 1—General Information General Information (a) Name of PFIC (b) EIN or (c) Address of PFIC (d) Beginning of (e) Ending of reference ID number PFIC tax year PFIC tax year A B C D E F G H I J K L Summary of Annual Information Information Regarding Elections (k) Box is checked if (l) Box is (m) Box is (n) Box is foreign checked if PFIC checked if (g) Dates PFIC (h) Shareholder’s share (i) Shareholder’s share (j) Election corporation has has indicated PFIC is also checked if (f) Description of each shares acquired of total number of of total value of made by documented its its shares are a controlled PFIC meets eligibility to be class of PFIC shares during tax year PFIC shares held by PFIC shares held by corporation treated as a “marketable foreign the income (if applicable) corporation at end of corporation at end of (see qualifying stock” within corporation test or asset tax year tax year instructions) insurance the meaning (CFC) within test of section corporation of section the meaning of 1297(a) for the under section 1296(e). section 957. tax year. 1297(f)(2). A B C D E F G H I J K L Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 13 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part VI Information Regarding Passive Foreign Investment Companies (PFICs) (continued) Section 2—Additional Information on PFIC or Qualified Electing Fund (QEF) General Information QEF Information Section 1296 Mark-to-Market Information Section 1291 and Other Information (e) Shareholder’s share (a) Name of PFIC (b) EIN or (c) Shareholder’s share (d) Shareholder’s share of fair market value (FMV) (f) Shareholder’s share reference ID number of ordinary earnings of net capital gain of PFIC shares held by of FMV of PFIC shares (g) Dates PFIC shares corporation at beginning held by corporation at were acquired of tax year end of tax year A B C D E F G H I J K L Section 1291 and Other Information (h) Shareholder’s share (j) Shareholder’s share (k) Shareholder’s share (l) Dates PFIC (m) Shareholder’s (n) Shareholder’s share (o) Shareholder’s share of amount of cash and of total creditable of total distributions shares disposed of share of amount of corporation’s tax of gain (loss) on FMV of property (i) Dates of foreign taxes from PFIC in preceding during tax year realized by corporation basis in PFIC shares disposition by distributed by PFIC distribution attributable to 3 tax years (if applicable) on disposition of on dates of disposition corporation of PFIC during the current tax year (if applicable) distribution by PFIC PFIC shares shares A B C D E F G H I J K L Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 14 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part VII Shareholder’s Share of S Corporation’s Interest in Foreign Corporation Income (Section 960) A EIN or reference ID number of controlled foreign corporation . . B Separate category. See instructions . . . . C If PAS was entered on line B, applicable grouping under Regulations section 1.904-4(c). See instructions . . . . . . . . . . . . . . D Box is checked if there is more than one source country for a line. See attachment and instructions E Box is checked if U.S. source income . . . . . . . . . . . . F Box is checked if foreign oil related income or foreign oil and gas extraction income G Functional currency of foreign corporation . . . . . . . (ii) Shareholder’s share of (iii) Foreign corporation’s (iv) Foreign corporation’s Amounts are in functional currency unless otherwise noted. (i) Country code foreign corporation’s net total net income (functional current year foreign taxes for which credit allowed (U.S. See instructions. income (functional currency) currency) (see instructions) dollars) (see instructions) 1 Subpart F income groups a Dividends, interest, rents, royalties, and annuities (total) . . . . . . . (1) Unit: (2) Unit: b Net gain from certain property transactions (total) . . . . . . . . . (1) Unit: (2) Unit: c Net gain from commodities transactions (total) . . . . . . . . . . (1) Unit: (2) Unit: d Net foreign currency gain (total) . . . . . . . . . . . . . . (1) Unit: (2) Unit: e Income equivalent to interest (total) . . . . . . . . . . . . . (1) Unit: (2) Unit: f Other foreign personal holding company income (total) . . . . . . . (1) Unit: (2) Unit: g Foreign base company sales income (total) . . . . . . . . . . . (1) Unit: (2) Unit: h Foreign base company services income (total) . . . . . . . . . . (1) Unit: (2) Unit: i Full inclusion foreign base company income (total) . . . . . . . . (1) Unit: (2) Unit: j Insurance income (total) . . . . . . . . . . . . . . . . (1) Unit: (2) Unit: k International boycott income (total) . . . . . . . . . . . . . l Bribes, kickbacks, and other payments (total) . . . . . . . . . . m Section 901(j) (total) . . . . . . . . . . . . . . . . . . Schedule K-3 (Form 1120-S) 2024 |
Enlarge image | Schedule K-3 (Form 1120-S) 2024 Page 15 Corporation’s name EIN Shareholder’s name Shareholder’s identifying number Part VII Shareholder’s Share of S Corporation’s Interest in Foreign Corporation Income (Section 960) (continued) (ii) Shareholder’s share of (iii) Foreign corporation’s (iv) Foreign corporation’s Amounts are in functional currency unless otherwise noted. (i) Country code foreign corporation’s net total net income (functional current year foreign taxes for which credit allowed (U.S. See instructions. income (functional currency) currency) (see instructions) dollars) (see instructions) 2 Recaptured subpart F income . . . . . . . . . . . . . . . 3 Tested income group (total) . . . . . . . . . . . . . . . (1) Unit: (2) Unit: 4 Residual income group (total) . . . . . . . . . . . . . . . (1) Unit: (2) Unit: 5 Total . . . . . . . . . . . . . . . . . . . . . . Schedule K-3 (Form 1120-S) 2024 |