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Federal Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System
with TurboTaxExtracted from PDF file 2023-federal-965.pdf, last modified November 2020Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System
Form 965 Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System (Rev. January 2021) Department of the Treasury Internal Revenue Service ▶ For calendar year 20 OMB No. 1545-0123 ▶ Attach to tax return. Go to www.irs.gov/Form965 for instructions and the latest information. , or other tax year beginning , 20 Attachment Sequence No. 76 , and ending , 20 , of the filer. Identifying number Name of person filing this return Note: Throughout this form, the term “2020 tax year” refers to 2020 calendar tax years and fiscal tax years of the person filing this return that begin in 2020. Part I Section 965(a) Inclusion 1 2 Reserved . Reserved . 3 2020 tax year section 965(a) inclusions from pass-throughs. Enter the sum here and on your tax return as follows. Corporations: Enter the line 3 total on Form 1120, Schedule C, line 15, column (a), or the corresponding line of other corporate tax returns. All others: See instructions . . . . . . . . . . . . . . . . . . . . . Reserved . . . . . . . . . . . . . . . . . . . . . . . . . . . Reserved . . . . . . . . . . . . . . . . . . . . . . . . . . . Reserved . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 6 Part II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 ▶ 3 4 5 6 . . ▶ Section 965(c) Deduction 7 8 9 10 11 12 13 14 15 16 Reserved Reserved Reserved Reserved Reserved Reserved Reserved Reserved Reserved Reserved . . . . . . . . . . 7 8 9 10 11 12 13 14 15 16 17 2020 tax year section 965(c) deduction from pass-throughs. Enter the sum here and on your tax return as follows. Corporations: Enter the line 17 total on Form 1120, Schedule C, line 15, column (c), or the corresponding line of other corporate tax returns. All others: See instructions . . . . . . . . . . . . . . . . . . . . . . 17 Part III A B C D E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Elections Yes No Was an election made to pay the net tax liability over 8 years as provided for in section 965(h)? Complete if a shareholder in an S corporation. Was an election made to defer payment of net tax liability as provided for in section 965(i)? . . Complete if a Real Estate Investment Trust. Was an election made to include income over 8 years as provided for in section 965(m)? . . Was an election made not to apply a net operating loss deduction as provided in section 965(n)? Was the election provided for in Regulations section 1.965-2(f)(2) made? . . . . . . . . For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 71279D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Form 965 (Rev. 1-2021)
Form 965 (Rev. January 2021)
More about the Federal 965 Individual Income Tax TY 2023
We last updated the Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System in February 2024, so this is the latest version of 965, fully updated for tax year 2023. You can download or print current or past-year PDFs of 965 directly from TaxFormFinder. You can print other Federal tax forms here.
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TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal 965.
| Form Code | Form Name |
|---|---|
| Form 8965 | Health Coverage Exemptions |
| 965 (Schedule A) | U.S. Shareholder's Section 965(a) Inclusion Amount |
| 965 (Schedule C) | U.S. Shareholder's Aggregate Foreign Earnings and Profits Deficit (E&P) |
| 965 (Schedule D) | U.S. Shareholder's Aggregate Foreign Cash Position |
| 965 (Schedule E) | U.S. Shareholder's Aggregate Foreign Cash Position - Detail |
| 965-B | Corporate and Real Estate Investment Trust (REIT) Report of Net 965 Tax Liability and (REIT) Report of Net 965 Inclusion |
| Form 965 (Schedule H) | Amount Reported on Forms 1116 and 1118 and Disallowed Foreign Taxes |
| Inst 8965 | Instructions for Form 8965, Health Coverage Exemptions |
| 965 (Schedule B) | Deferred Foreign Income Corporation’s Earnings and Profits (E&P) |
| 965 (Schedule F) | Foreign Taxes Deemed Paid by Domestic Corporation for tax years of foreign corporations whose last taxable year, beginning before January 1, 2018, end |
View all 775 Federal Income Tax Forms
Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 965 from the Internal Revenue Service in February 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Federal 965
We have a total of six past-year versions of 965 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 965
Form 965 (Rev. January 2021)
2022 965
Form 965 (Rev. January 2021)
2021 965
Form 965 (Rev. January 2021)
2020 965
Form 965 (Rev. January 2021)
2019 965
Form 965 (Rev. January 2020)
2018 965
Form 965 (January 2019)
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