Form 3520-A, page 4 says:
Report each item on the proper form or schedule of your tax return.
So, what are the proper places to report those numbers?
The ones I care most about are the expenses (lines 9 to 14).
10a Foreign taxes => Form 1116
---
Fred J. Tydeman Tydeman Consulting
tydeman@tybor.com Testing, numerics, programming
+1 (702) 608-6093 Vice-chair of INCITS/C (ANSI "C")
Sample C17+FPCE tests: http://www.tybor.com
Savers sleep well, investors eat well, spenders work forever.
On 7/22/2023 7:30 PM, Fred J. Tydeman wrote:
Form 3520-A, page 4 says:
Report each item on the proper form or schedule of your tax return.
So, what are the proper places to report those numbers?
My assumption is on Schedule E, the same as for US trusts. From
Schedule E instructions:
A U.S. person who transferred property to a foreign trust may have to
report the income received by the trust as a result of the transferred property if, during 2022, the trust had a U.S. beneficiary. See section
679. An individual who received a distribution from, or who was the
grantor of or transferor to, a foreign trust must also complete Part III
of Schedule B (Form 1040) and may have to file Form 3520. In addition,
the owner of a foreign trust must ensure that the trust files an annual information return on Form 3520-A.
Form 3520-A, page 4 says:
Report each item on the proper form or schedule of your tax return.
So, what are the proper places to report those numbers?
The ones I care most about are the expenses (lines 9 to 14).
10a Foreign taxes => Form 1116
---
Fred J. Tydeman Tydeman Consulting
tyd...@tybor.com Testing, numerics, programming
+1 (702) 608-6093 Vice-chair of INCITS/C (ANSI "C")
Sample C17+FPCE tests: http://www.tybor.com
Savers sleep well, investors eat well, spenders work forever.
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