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Printable Form 5471 (Schedule O) El Monte California: What You Should Know
Filing requirements of Form 5471. Category Taxpayer filing(s) Required Forms (for a particular form shown below): Form 5474 or 5457. 1. Schedule 1, Schedule K-2. 4. Schedule K-3, Schedule F. 5. Form 6166 or Form 1023, if you have any additional Schedule(s) for any nonqualified deferred compensation. 6. Schedule Q-1 or Form 8949, if you are reporting from an offshore fund or partnership. 7. Complete the Schedule K-2 and Schedule K-3 schedules by hand. PART II — CREDITS AND EXPENSES OF PERSONS OTHER THAN INHABITANTS UNDER CALIFORNIA REHAB IT ACT Deductions. Deduction for expenses. 1. For each person, see item 24 of table below. If not in writing, the following statement must remain on the original Form 5472. When you are filing Schedule K-2 (other than Schedule K-2A (including Schedule K-2B and K-2C)) for a particular person, do not reduce (or make any additions to or delete from) the deductions in your Schedule K-2A and Schedule K-2B by the amount that you report in box 1 of your Schedule K-2A. (See instructions for Schedule K-2A (other than Schedule K-2A (including Schedule K-2B and K-2C))) 2. If you have qualified medical expenses or qualified educational expenses, use the amounts in box 1a of Table A below. When you are filing from a qualified medical deduction, use the amount in box 1b instead of the amount in box 1a. (See table below.) (From Form 5472) The following items on Form 5472 are not deductible: Exemptions. When you are a nonresident alien, you may not claim the same item on two different Form 5472. (Nonresident alien) If you pay qualified tuition and fees, you can substitute your tuition and fees paid on behalf of your child or children. But you cannot substitute tuition and fees that were paid to any other person, such as a relative, or your employer.
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