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I have a Sub S corp client who received a Form 5471 (a

Customer Question
foreign entity that they have...
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: 1 year ago.Category: Tax
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Answered in 1 minute by:
7/19/2016
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
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Satisfied Customers: 2,393
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Hi, my name is Mark. I would be happy to help you with your question.

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Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago

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

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