Get the free Form 5713 (Schedule B) (Rev. January 1997). Specifically Attributable Taxes and Inco...

SCHEDULE B (Form 5713) (Rev. January 1997) Specifically Attributable Taxes and Income (Section 999(c)(2)) OMB No. 1545-0216 Complete only if you are not computing a loss of tax benefits using the

How to fill out form 5713 schedule b

How to fill out Form 5713 Schedule B:

1. Gather the required information: Before starting to fill out Form 5713 Schedule B, make sure you have all the necessary information at hand. This may include details about your foreign sales and/or manufacturing activities, income and expenses related to foreign activities, and any relevant supporting documentation.
2. Provide your identification information: Begin by providing your name, employer identification number (EIN), and the tax period for which you are filing the form. Make sure to double-check the accuracy of this information.
3. Complete Part I: This section requires you to provide details about your foreign sales and/or manufacturing activities. You will have to fill in information such as gross receipts, cost of goods sold, and deductions related to foreign activities. Follow the instructions carefully and enter the correct figures in the appropriate boxes.
4. Complete Part II: In this section, you need to provide information on your foreign taxable income. You may need to refer to your financial records to accurately report the relevant income and deductions. Make sure to complete each line item accurately and provide any supporting documentation as required.
5. Calculate your foreign tax credit limitation: If you have foreign income taxes paid or accrued, you need to calculate your foreign tax credit limitation in Part III. This involves determining the maximum foreign tax credit you can claim based on the taxable income you report on Form 5713 Schedule B.
6. Review and sign the form: Once you have completed all sections of Form 5713 Schedule B, carefully review your entries for accuracy. Make any necessary corrections or revisions before signing the form. Remember to attach any required schedules or supporting documentation.

Who needs Form 5713 Schedule B:

Form 5713 Schedule B is needed by corporations or partnerships that are engaged in certain foreign sales or manufacturing activities and are subject to the U.S. tax system. This form is used to report and calculate the amount of tax due or foreign tax credit that can be claimed based on these activities. It is an additional schedule to be filed along with Form 5713.

Please note that specific eligibility criteria and requirements for filing Form 5713 Schedule B may apply. It is recommended to consult with a tax professional or refer to the instructions provided by the Internal Revenue Service (IRS) to determine if you need to file this form.

For pdfFiller’s FAQs

What is form 5713 schedule b?

Form 5713 schedule b is a supplementary schedule used by US corporations that are required to file Form 5713, International Boycott Report.

Who is required to file form 5713 schedule b?

US corporations that have operations in a foreign country where there is an international boycott are required to file Form 5713 schedule b.

How to fill out form 5713 schedule b?

Form 5713 schedule b must be filled out by providing detailed information about the US corporation's involvement in the international boycott, including the countries involved and the amount of income affected.

What is the purpose of form 5713 schedule b?

The purpose of Form 5713 schedule b is to report to the IRS any income or operations that are affected by an international boycott, as required by US tax laws.

What information must be reported on form 5713 schedule b?

Form 5713 schedule b requires information about the countries involved in the international boycott, the income affected, and the specific operations impacted by the boycott.

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