IRS Form 5471 Schedule E Income, War Profits, and Excess Profits Taxes Paid or Accrued

What Is IRS Form 5471 Schedule E?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2019. The document is a supplement to IRS Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 5471?
A: IRS Form 5471 is a form used to report interests in foreign corporations.

Q: What is Schedule E of IRS Form 5471?
A: Schedule E of IRS Form 5471 is used to report income, war profits, and excess profits taxes paid or accrued in connection with a foreign corporation.

Q: When do I need to file IRS Form 5471?
A: You need to file IRS Form 5471 if you are a U.S. person who has certain interests in a foreign corporation.

Q: What information is reported on Schedule E?
A: Schedule E reports the income, war profits, and excess profits taxes paid or accrued by the foreign corporation.

Q: How do I complete Schedule E of IRS Form 5471?
A: You will need to gather information about the foreign corporation's income and taxes paid or accrued, and then enter that information in the appropriate sections of Schedule E.