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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 1120-F Schedule S
for the current year.
IRS Form 1120-F Schedule S Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883
What Is IRS Form 1120-F Schedule S?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. The document is a supplement to IRS Form 1120-F, U.S. Income Tax Return of a Foreign Corporation. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 1120-F?
A: IRS Form 1120-F is a tax form used by foreign corporations to report their U.S. income and expenses.
Q: What is Schedule S?
A: Schedule S is a part of IRS Form 1120-F that is used to report the exclusion of income from the international operation of ships or aircraft.
Q: What is the purpose of Schedule S?
A: The purpose of Schedule S is to calculate and report the amount of income that can be excluded under Section 883 of the Internal Revenue Code.
Q: Who can use Schedule S?
A: Foreign corporations that operate ships or aircraft in international waters or airspace may use Schedule S to exclude certain income from their U.S. taxation.
Q: What is Section 883?
A: Section 883 is a provision in the Internal Revenue Code that allows certain income derived from the international operation of ships or aircraft to be excluded from U.S. taxation.
Q: What types of income can be excluded under Section 883?
A: Under Section 883, income derived from the transportation of passengers, mail, or goods, as well as income from the use, maintenance, or rental of ships or aircraft in international traffic, can be excluded.
Q: How does Schedule S calculate the exclusion of income?
A: Schedule S calculates the exclusion of income by applying a formula based on the ratio of international miles or tonnage to total miles or tonnage.
Q: Do I need to attach Schedule S to my tax return?
A: Yes, if you are a foreign corporation using Form 1120-F to report your U.S. income and expenses, you must attach Schedule S to your tax return to claim the exclusion of income under Section 883.
Form Details:
- A 2-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
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- Fill out the form in our online filing application.
Download a fillable version of IRS Form 1120-F Schedule S through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 1120-F Schedule S Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883
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