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Federal Adjustments to Separate Limitation Income (Loss) Categories for Determining Numerators of Limitation Fractions, Year-End Recharacterization Balances,
Extracted from PDF file 2023-federal-1118-schedule-j.pdf, last modified November 2020Adjustments to Separate Limitation Income (Loss) Categories for Determining Numerators of Limitation Fractions, Year-End Recharacterization Balances,
Schedule J (Form 1118) (Rev. December 2020) Department of the Treasury Internal Revenue Service Adjustments to Separate Limitation Income (Loss) Categories for Determining Numerators of Limitation Fractions, Year-End Recharacterization Balances, and Overall Foreign and Domestic Loss Account Balances For calendar year 20 , or other tax year beginning , 20 ▶ , and ending , 20 Attach to Form 1118. Employer identification number Name of corporation Part I OMB No. 1545-0123 Adjustments to Separate Limitation Income or (Losses) in Determining Numerators of Limitation Fractions (see instructions) (i) Section 951A income (v) Other income* (iii) (iv) Passive category income General category income (identify ▶ (ii) Foreign branch income (vi) U.S. income ) 1 2 Income or (loss) before adjustments Allocation of separate limitation losses: a Section 951A income b Foreign branch income c Passive category income d General category income e Other income* (identify ▶ ( ( ( ( ) )( )( )( ( ) )( )( )( ( ) )( )( )( ( ) ( )( )( )( ) ( )( )( )( )( ) ( )( )( )( )( ) ( ) 3 4 5 6 7 8 9 Subtotal—Combine lines 1 through 2e. Allocation of overall foreign losses Allocation of domestic losses Subtotal—Combine lines 3 through 5. Recapture of overall foreign losses Subtotal—Combine lines 6 and 7. Recharacterization of separate limitation income: a Section 951A income b Foreign branch income c Passive category income d General category income e Other income* (identify ▶ ( Recapture of overall domestic losses 11 Numerator of Limitation Fraction— Combine lines 8 through 10. Enter each result here and on Schedule B, Part II, line 7, of corresponding Form 1118. ( ) ( ) ) ( ) ( ) 10 ) ) ) ) ) ( ) * Important: See Computer-Generated Schedule J in instructions. For Paperwork Reduction Act Notice, see the Instructions for Form 1118. Cat. No. 10309U Schedule J (Form 1118) (Rev. 12-2020) Page 2 Schedule J (Form 1118) (Rev. 12-2020) Part II Year-End Balances of Future Separate Limitation Income That Must Be Recharacterized (section 904(f)(5)(C)) (i) Section 951A income (v) Other income* (iii) (iv) Passive category income General category income (identify ▶ (ii) Foreign branch income (vi) U.S. income ) a b c d e Section 951A income Foreign branch income Passive category income General category income Other income* (identify ▶ ) Part III 1 2 3 4 5 Beginning balance Current year additions Current year reductions (other than recapture) Current year recapture (from Part I, line 7) Ending balance—Combine lines 1 through 4. Part IV 1 2 3 4 5 6 Overall Foreign Loss Account Balances (section 904(f)(1)) Complete for each separate limitation income category. ( ( )( )( )( )( )( )( )( )( ) ) )( )( )( ) Overall Domestic Loss Account Balances (section 904(g)(1)) Beginning balance Current year additions Current year reductions (other than recapture) ( Subtotal—Combine lines 1 through 3. Current year recapture (from Part I, line 10) Ending balance—Subtract line 5 from line 4. )( * Important: See Computer-Generated Schedule J in instructions. Schedule J (Form 1118) (Rev. 12-2020)
Schedule J (Form 1118) (Rev. December 2020)
More about the Federal 1118 (Schedule J) Corporate Income Tax TY 2023
We last updated the Adjustments to Separate Limitation Income (Loss) Categories for Determining Numerators of Limitation Fractions, Year-End Recharacterization Balances, in February 2024, so this is the latest version of 1118 (Schedule J), fully updated for tax year 2023. You can download or print current or past-year PDFs of 1118 (Schedule J) 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 1118 (Schedule J).
| Form Code | Form Name |
|---|---|
| 1118 (Schedule I) | Reduction of Foreign Oil and Gas Taxes |
| 1118 (Schedule K) | Foreign Tax Carryover Reconciliation Schedule |
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 1118 (Schedule J) from the Internal Revenue Service in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal 1118 (Schedule J)
We have a total of eleven past-year versions of 1118 (Schedule J) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 1118 (Schedule J)
Schedule J (Form 1118) (Rev. December 2020)
2022 1118 (Schedule J)
Schedule J (Form 1118) (Rev. December 2020)
2021 1118 (Schedule J)
Schedule J (Form 1118) (Rev. December 2020)
2020 1118 (Schedule J)
Schedule J (Form 1118) (Rev. December 2020)
2019 1118 (Schedule J)
Schedule J (Form 1118) (Rev. December 2018)
2018 1118 (Schedule J)
Schedule J (Form 1118) (Rev. December 2018)
2017 1118 (Schedule J)
Form 1118 (Schedule J) (Rev. September 2016)
2016 1118 (Schedule J)
Form 1118 (Schedule J) (Rev. September 2016)
2015 1118 (Schedule J)
Form 1118 Schedule J (Rev. 1-2009)
2012 1118 (Schedule J)
Form 1118 Schedule J (Rev. 1-2009)
2011 1118 (Schedule J)
Form 1118 Schedule J (Rev. 1-2009)
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