1120-US: Related supplier information on the IC-DISC return (FAQ)

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IRS filing deadline update

The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

Question

Where are the Related Supplier Information amounts I entered on Screen DISC P used on the return?

Answer

UltraTax CS uses the information you enter in the related supplier fields on Screen DISC P to complete several lines in Sections A-1 and A-2 of Schedule P. If you use marginal costing and complete Section A-2, UltraTax CS combines the related supplier amounts with the amounts you enter in the IC-DISC Combined Taxable Income section on Screen P.

Related topic: 1120-US: Form 1120-IC-DISC - Interest Charge Domestic International Sales Corporation FAQs

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