IRS Form 5713 Schedule C - Tax Effect of the International Boycott Provisions

IRS Form 5713 or the "Schedule C - Tax Effect Of The International Boycott Provisions" is a form issued by the U.S. Department of the Treasury - Internal Revenue Service.

The form was last revised in September 1, 2018 and is available for digital filing. Download an up-to-date IRS Form 5713 in PDF-format down below or look it up on the U.S. Department of the Treasury - Internal Revenue Service Forms website.

Step-by-step Form 5713 instructions can be downloaded by clicking this link.

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Tax Effect of the International Boycott Provisions
SCHEDULE C
(Form 5713)
Attach to Form 5713.
OMB No. 1545-0216
(Rev. September 2018)
See instructions on page 2.
Department of the Treasury
Go to www.irs.gov/forms-pubs/about-schedule-c-form-5713 for the latest information.
Internal Revenue Service
Name
Identifying number
1
Method used to compute loss of tax benefits (check one):
a International boycott factor from Schedule A (Form 5713). See lines 2a, 3a, 4a, and 5a below .
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b Identification of specifically attributable taxes and income from Schedule B (Form 5713). See lines 2b, 3b, 4b, and 5b
below .
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2
Reduction of foreign tax credit (section 908(a)):
a International boycott factor. Complete if you checked box 1a above and answered “Yes” to the
question on line 7d, Form 5713.
(1)
Foreign tax credit before adjustment from Form 1116 or 1118 (see instructions) .
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(2)
International boycott factor from Schedule A (Form 5713), line 3 .
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(3)
Reduction of foreign tax credit. Multiply line 2a(1) by line 2a(2). Enter here and on Form 1116 or
1118 (see instructions) .
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(4)
Adjusted foreign tax credit. Subtract line 2a(3) from line 2a(1) .
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7d, Form 5713. Enter the amount from line o, column (4), Schedule B
(Form 5713) .
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Enter the appropriate part of this amount on Form 1116 or 1118 (see instructions).
3
Denial of deferral under subpart F (section 952(a)(3)):
a International boycott factor. Complete if you checked box 1a above and answered ‘‘Yes’’ to the
question on line 7b, Form 5713.
(1)
Prorated share of total income of controlled foreign corporations (see instructions) .
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(2)
Prorated share of income attributable to earnings and profits of controlled foreign corporations
included in income under sections 951(a)(1)(A), 951(a)(1)(B), 952(a)(1), 952(a)(2), 952(a)(4), 952(a)(5),
and 952(b) .
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(3)
Subtract line 3a(2) from line 3a(1) .
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(4)
International boycott factor from Schedule A (Form 5713), line 3 .
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(5)
Prorated share of subpart F international boycott income. Multiply line 3a(3) by line 3a(4). Enter
here and on line 22 of Worksheet A in the Form 5471 instructions
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7b, Form 5713. Enter the amount from line o, column (5), Schedule B
(Form 5713) here and on line 22 of Worksheet A in the Form 5471 instructions .
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4
Denial of IC-DISC benefits (section 995(b)(1)(F)(ii)):
a International boycott factor. Complete if you checked box 1a above and answered “Yes” to the
question on line 7c, Form 5713.
(1)
Prorated share of section 995(b)(1)(F)(i) amount (see instructions) .
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(2)
International boycott factor from Schedule A (Form 5713), line 3 .
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(3)
Prorated share of IC-DISC international boycott income. Multiply line 4a(1) by line 4a(2). Enter this
amount here and the IC-DISC will include it on line 10, Part I, Schedule J, Form 1120-IC-DISC
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7c, Form 5713. Enter the amount from line o, column (6), Schedule B
(Form 5713) here and the IC-DISC will include it on line 10, Part I, Schedule J, Form 1120-IC-DISC .
5
Denial of exemption of foreign trade income (section 927(e)(2), as in effect before its repeal):
a International boycott factor. Complete if you checked box 1a above and answered “Yes” to the
question on line 7i, Form 5713.
(1)
Add amounts from columns (a) and (b), line 10, Schedule B (Form 1120-FSC)
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(2)
International boycott factor from Schedule A (Form 5713), line 3 .
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(3)
Exempt foreign trade income of a FSC attributable to international boycott operations. Multiply
line 5a(1) by line 5a(2). Enter here and on line 2, Schedule F, Form 1120-FSC .
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7i, Form 5713. Enter the amount from line o, column (7), Schedule B
(Form 5713) here and on line 2, Schedule F, Form 1120-FSC .
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For Paperwork Reduction Act Notice, see Instructions for Form 5713.
Schedule C (Form 5713) (Rev. 9-2018)
Cat. No. 12070O
Tax Effect of the International Boycott Provisions
SCHEDULE C
(Form 5713)
Attach to Form 5713.
OMB No. 1545-0216
(Rev. September 2018)
See instructions on page 2.
Department of the Treasury
Go to www.irs.gov/forms-pubs/about-schedule-c-form-5713 for the latest information.
Internal Revenue Service
Name
Identifying number
1
Method used to compute loss of tax benefits (check one):
a International boycott factor from Schedule A (Form 5713). See lines 2a, 3a, 4a, and 5a below .
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b Identification of specifically attributable taxes and income from Schedule B (Form 5713). See lines 2b, 3b, 4b, and 5b
below .
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2
Reduction of foreign tax credit (section 908(a)):
a International boycott factor. Complete if you checked box 1a above and answered “Yes” to the
question on line 7d, Form 5713.
(1)
Foreign tax credit before adjustment from Form 1116 or 1118 (see instructions) .
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(2)
International boycott factor from Schedule A (Form 5713), line 3 .
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(3)
Reduction of foreign tax credit. Multiply line 2a(1) by line 2a(2). Enter here and on Form 1116 or
1118 (see instructions) .
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(4)
Adjusted foreign tax credit. Subtract line 2a(3) from line 2a(1) .
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7d, Form 5713. Enter the amount from line o, column (4), Schedule B
(Form 5713) .
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Enter the appropriate part of this amount on Form 1116 or 1118 (see instructions).
3
Denial of deferral under subpart F (section 952(a)(3)):
a International boycott factor. Complete if you checked box 1a above and answered ‘‘Yes’’ to the
question on line 7b, Form 5713.
(1)
Prorated share of total income of controlled foreign corporations (see instructions) .
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(2)
Prorated share of income attributable to earnings and profits of controlled foreign corporations
included in income under sections 951(a)(1)(A), 951(a)(1)(B), 952(a)(1), 952(a)(2), 952(a)(4), 952(a)(5),
and 952(b) .
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(3)
Subtract line 3a(2) from line 3a(1) .
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(4)
International boycott factor from Schedule A (Form 5713), line 3 .
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(5)
Prorated share of subpart F international boycott income. Multiply line 3a(3) by line 3a(4). Enter
here and on line 22 of Worksheet A in the Form 5471 instructions
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7b, Form 5713. Enter the amount from line o, column (5), Schedule B
(Form 5713) here and on line 22 of Worksheet A in the Form 5471 instructions .
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4
Denial of IC-DISC benefits (section 995(b)(1)(F)(ii)):
a International boycott factor. Complete if you checked box 1a above and answered “Yes” to the
question on line 7c, Form 5713.
(1)
Prorated share of section 995(b)(1)(F)(i) amount (see instructions) .
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(2)
International boycott factor from Schedule A (Form 5713), line 3 .
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(3)
Prorated share of IC-DISC international boycott income. Multiply line 4a(1) by line 4a(2). Enter this
amount here and the IC-DISC will include it on line 10, Part I, Schedule J, Form 1120-IC-DISC
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7c, Form 5713. Enter the amount from line o, column (6), Schedule B
(Form 5713) here and the IC-DISC will include it on line 10, Part I, Schedule J, Form 1120-IC-DISC .
5
Denial of exemption of foreign trade income (section 927(e)(2), as in effect before its repeal):
a International boycott factor. Complete if you checked box 1a above and answered “Yes” to the
question on line 7i, Form 5713.
(1)
Add amounts from columns (a) and (b), line 10, Schedule B (Form 1120-FSC)
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(2)
International boycott factor from Schedule A (Form 5713), line 3 .
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(3)
Exempt foreign trade income of a FSC attributable to international boycott operations. Multiply
line 5a(1) by line 5a(2). Enter here and on line 2, Schedule F, Form 1120-FSC .
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b Specifically attributable taxes and income. Complete if you checked box 1b above and answered
“Yes” to the question on line 7i, Form 5713. Enter the amount from line o, column (7), Schedule B
(Form 5713) here and on line 2, Schedule F, Form 1120-FSC .
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For Paperwork Reduction Act Notice, see Instructions for Form 5713.
Schedule C (Form 5713) (Rev. 9-2018)
Cat. No. 12070O
2
Schedule C (Form 5713) (Rev. 9-2018)
Page
6
Reduction of foreign trade income qualifying for the extraterritorial income exclusion. Complete if you
answered “Yes” to the question on line 7j, Form 5713.
a Enter amount from line 49 of Form 8873 .
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b International boycott factor from Schedule A (Form 5713), line 3 .
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c Reduction of qualifying foreign trade income. Multiply line 6a by 6b. Enter here and on Form 8873,
line 50 .
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Future Developments
Other Requirements
Line 2a(3). Enter the reduction of
foreign tax credit from this line on
For the latest information about
• A person who applies the
either Form 1116 or 1118. With respect
developments related to Schedule C
international boycott factor to one
to Form 1116, enter the reduction on
(Form 5713) and its instructions, such
operation must apply the factor to all
line 32, Part IV, and with respect to
as legislation enacted after they were
that tax year’s operations under
Form 1118, enter the reduction on line
published, go to www.irs.gov/forms-
section 908(a), 952(a)(3), 995(b)(1)(F)(ii),
8, Part III, Schedule B.
pubs/about-schedule-c-form-5713.
or 927(e)(2).
Line 2b. Enter the reduction of foreign
• A person who identifies specifically
taxes available for credit from this line
Instructions
attributable taxes and income under
on Form 1116 or 1118. With respect to
section 999(c)(2) must use that
Form 1116, include this amount on line
Section references are to the Internal
method for all that tax year’s
12, Part III. With respect to Form 1118,
Revenue Code unless otherwise
operations under section 908(a),
enter this amount on line C,
noted.
952(a)(3), 995(b)(1)(F)(ii), or 927(e)(2).
Schedule G.
Purpose of Form
• An IC-DISC whose tax year differs
Line 3a(1). Enter your share of the
from the common tax year of the
income of the controlled foreign
Schedule C (Form 5713) is used to
controlled group of which it is a
corporation on line 3a(1).
compute the loss of tax benefits
member does not need to amend its
Nonexempt foreign trade income of
attributable to participation in or
return to show on Schedule J (Form
cooperation with an international
a foreign sales corporation (FSC) that
1120-IC-DISC) the amount of IC-DISC
was computed without regard to the
boycott.
benefits lost because of boycott
administrative pricing rules is subject
Who Must File
participation. Because the IC-DISC
to the subpart F rules. Include your
benefits are lost at the shareholder
share of these types of income on line
Complete Schedule C (Form 5713) if
level, the shareholder must include in
3a(1).
you completed either Schedule A or
income the prorated share of income
Line 4a(1). Enter your pro rata share
Schedule B of Form 5713.
attributable to boycott operations
of section 995(b)(1)(F)(i) amount on
Partnerships. Each partner must
shown on line 4a(3).
line 4a(1) as follows.
complete a separate Schedule C
• A person excluding extraterritorial
(Form 5713). Partnerships do not
• Shareholder that is not a
income must reduce qualifying foreign
complete Schedule C (Form 5713).
C corporation. Enter your pro rata
trade income using the international
share of line 8, Part I, Schedule J,
Controlled groups. Unless a
boycott factor computed on
Form 1120-IC-DISC.
controlled group (described in section
Schedule A.
993(a)(3)) files a consolidated return,
• Shareholder that is a
Lines 2 through 6
each member may independently
C corporation. Enter your pro rata
choose to either (a) apply the
share of line 8, Part I, Schedule J,
Line 2a(1). Enter the foreign tax credit
international boycott factor under
Form 1120-IC-DISC, multiplied by
before adjustment from Form 1116 or
section 999(c)(1) or (b) identify
16/17.
1118. Enter the amount from line 30,
specifically attributable taxes and
Part IV, of Form 1116 and/or the
income under section 999(c)(2). Each
amount from line 7, Part III, Schedule
member must consistently use a
B, of Form 1118.
single method to figure the loss of tax
benefits.
Schedule C (Form 5713) (Rev. 9-2018)

Download IRS Form 5713 Schedule C - Tax Effect of the International Boycott Provisions

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