1120-F Schedule P List of Foreign Partner Interests

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SCHEDULE P
(Form 1120-F)
Department of the Treasury
Internal Revenue Service
Name of corporation (foreign partner)

Part I

▶

2018

▶ Attach to Form 1120-F.
Go to www.irs.gov/Form1120F for instructions and the latest information.

Employer identification number (EIN)

List of Foreign Partner Interests in Partnerships

DRAFT AS OF
August 22, 2018
DO NOT FILE

(a) Name of partnership

A

OMB No. 1545-0123

List of Foreign Partner Interests in Partnerships

(b) Address

(d) For each partnership interest, is the
foreign corporation’s distributive share
ECI, or treated as ECI, in whole or in part,
with a U.S. trade or business determined
under section 875 (see instructions)?

(c) EIN

Yes

No

Yes

No

Yes

No

Yes
Note: If the corporation has more than 4 partnership interests, continue on a separate page. See instructions.

No

B
C
D

Part II

Foreign Partner Income and Expenses: Reconciliation to Schedule K-1 (Form 1065)
See instructions if reconciling to Schedule K-1 (Form 1065-B).
Schedules K-1
A

1

B

C

D

Total

Net income (loss) reported on lines 1
through 3, Schedule K-1 . . . . .
Gross income included on lines 1
through 3, Schedule K-1 . . . . .
Gross effectively connected income (ECI)
on lines 1 through 3, Schedule K-1 . .
Non-interest expenses on lines 1
through 3, Schedule K-1 . . . . .
Non-interest expenses on lines 1 through
3, Schedule K-1, allocated to gross ECI
Net income (loss) reported on Schedule
K-1, other than on lines 1 through 3 .
Other gross income reported on
Schedule K-1 . . . . . . . .

2
3
4
5
6
7
8
9

Other gross ECI reported on Schedule K-1
Other non-interest expenses reported
on Schedule K-1 . . . . . . .
Other non-interest expenses reported on
Schedule K-1, allocated to gross ECI . .

10
11
12

Total gross income. Add lines 2 and 7
Total gross effectively connected
income. Add lines 3 and 8 . . . .
13
Interest expense on lines 1 through 3,
Schedule K-1 . . . . . . . .
14
Other interest expense reported on
Schedule K-1, lines 13 and 18 . . .
15a Total interest expense. Add lines 13
and 14 . . . . . . . . . . .
b Interest expense directly allocable
under Regulations section 1.882-5(a)(1)
(ii)(B). (Note: Include the line 15b total
on Schedule I, line 22.) . . . . .
c

Subtract line 15b from line 15a. (Note:
Enter the portion of the line 15c total that
constitutes interest on U.S. booked
liabilities on Schedule I, line 9, column (b).)

For Paperwork Reduction Act Notice, see the Instructions for Form 1120-F.

Cat. No. 49677Z

Schedule P (Form 1120-F) 2018

Page 2

Schedule P (Form 1120-F) 2018

Part III

Foreign Partner’s Average Outside Basis Under Regulations sections 1.882-5(b) and 1.884-1(d)(3)
Schedules K-1
A

16

Section 705 outside basis

17a

.

.

.

B

C

D

Total

.

DRAFT AS OF
August 22, 2018
DO NOT FILE

Partner’s liabilities included in outside
basis under section 752 that give
rise to directly allocable interest
expense under Regulations section
1.882-5(a)(1)(ii)(B) . . . . . . .
b All other liabilities included in partner’s
outside basis under section 752 . .
c Add lines 17a and 17b . .
d Subtract line 17c from line 16

.
.

.
.

.
.

18

Partner’s liabilities under Regulations
section 1.884-1(d)(3)(vi). (Note: Enter
the portion of the line 18 total on
Schedule I, line 8, column (b) that
represents U.S. booked liabilities under
Regulations section 1.882-5(d).) . .

19

Partner’s outside basis under
Regulations section 1.884-1(d)(3)(vi).
Add lines 17d and 18 . . . . . .

20

Partner’s outside basis allocable to ECI
under Regulations section 1.884-1(d)(3)(i)
and 1.882-5. (Note: The line 20 total
should generally be entered on Schedule I,
line 5, column (b). However, see the
instructions for Schedule I, line 5, column
(b) before entering an amount on that line.)

21

Enter “income” or “asset” to indicate
the allocation method used on line 20
(see instructions) . . . . . . .
Schedule P (Form 1120-F) 2018