Note:

IRC 965(i) elections made after 201712 will be identified with a CCC B in addition to the CCC J.

IRC 965(i) elections have specific IDRS TC 971 inputs for tracking claims and continuing intact (i) elections (965 tax is still deferred).

A TC 971 AC 114 should be present on the inclusion year module and the triggering event year module only.

If only an IRC 965(i) election was made a TC 971 AC 114 for zero should be displayed on the inclusion year module because IRC 965(i) defers both the assessment and the payment of the IRC 965 tax liability. Because the tax is not assessed and no other elections were made, the 965(i) total tax amount recorded in the TC 971 AC 114 should be zero.

If an IRC 965(i) election was made in conjunction with an IRC 965(h) election in the inclusion year, a TC 971 AC 114 for the amount of the IRC 965 Total Tax Liability minus the 965(i) deferred tax amount , should be displayed on the inclusion year module.

TC 971 AC 165 represents an intact IRC 965(i) election. If a 965(i) election was made by itself or in conjunction with a 965(h) election, a TC 971 AC 165 reflecting the 965(i) deferral amount, should be input on the 965(i) inclusion year tax module along with the TC 971 AC 114.

A TC 971 AC 165 should be input on the inclusion year module and every subsequent year module that the 965(i) election remains intact and untriggered.