Part IV of Schedule K-2 (and Part IV of Schedule K-3).
Instruction 1120-S (Schedule K-2 & K-3) — S Corporation Instructions for Schedules K-2 and K-3 (Form 1120-S), Shareholders' Pro Rata Share Items - International and Shareholder's Share of Income, Deductions, Credits, etc. - International · 2026-10-03 edition · updated 2026-10-04 · United States
Used to report information the shareholder needs, in combination with other information known to the shareholder, to determine the amount of each distribution from a foreign corporation that is treated as a dividend or excluded from gross income because the distribution is attributable to previously taxed earnings and profits (PTEP) in the shareholder’s annual PTEP accounts with respect to the foreign corporation, and the amount of foreign currency gain or loss on the PTEP that the shareholder is required to recognize under section 986(c).
Inst. for Schedules K-2 and K-3 (Form 1120-S) (2025) 3
Shareholder Calculation of Global Intangible Low-Taxed Income (GILTI), and Form 1040, with respect to subpart F income inclusions, section 951(a)(1)(B) inclusions, and section 951A inclusions.
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