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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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I have a Sub S corp client who received a Form 5471 (a

Customer Question

I have a Sub S corp client who received a Form 5471 (a foreign entity that they have about a 1% interest inc) where the reporting entity has a January 1, 2016 year end reported. Do we pick this up on the 2015 Sub S corporate return or is it deferred until 2016?
JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?
Customer: Not really
Submitted: 3 months ago.
Category: Tax
Expert:  Mark Taylor replied 3 months ago.

Hi, my name is Mark. I would be happy to help you with your question.

Expert:  Mark Taylor replied 3 months ago.

It would be deferred until 2016. How much is the 1% interest generating in income?

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