1118 Schedule J Adjustments to Separate Limitation Income (Loss) Categor

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 ▶

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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 ▶

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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.

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* 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.

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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.

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* Important: See Computer-Generated Schedule J in instructions.
Schedule J (Form 1118) (Rev. 12-2020)