Schedule P (Form 1120-Fsc) - Transfer Price Or Commission
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3Transfer Price or Commission
SCHEDULE P
(Form 1120-FSC)
For amount reported on line
, Schedule
, Form 1120-FSC.
OMB No. 1545-0123
(Rev. September 2017)
Attach Schedule P to Form 1120-FSC.
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Department of the Treasury
Go to for the latest information.
Internal Revenue Service
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Name as shown on Form 1120-FSC
Employer identification number
A Product or product line (see instructions)
B Basis of reporting (see instructions):
1.
Transaction-by-transaction:
C Principal business activity code (if applicable) (see instructions)
a. Aggregate on Schedule P
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b. Aggregate on tabular schedule .
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c. Tabular schedule of transactions
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2.
Group of transactions
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Part I
FSC Profit
Section A—Combined Taxable Income (see instructions)
Full Costing
1
1
Foreign trading gross receipts from transaction between FSC or related supplier and third party .
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2
Costs and expenses allocable to foreign trading gross receipts from transaction:
a Cost of goods sold attributable to property if sold, or depreciation attributable
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to property if leased
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b Related supplier’s expenses allocable to foreign trading gross receipts (see
instructions) .
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2b
c FSC’s expenses allocable to foreign trading gross receipts
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d Add lines 2a through 2c .
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2d
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Combined taxable income. Subtract line 2d from line 1. If zero or less, enter -0- .
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3
Marginal Costing
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Foreign trading gross receipts from resale by FSC, or sale by related supplier, to third party
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5
Costs and expenses allocable to foreign trading gross receipts from sale:
a Cost of direct material attributable to property sold .
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5a
b Cost of direct labor attributable to property sold .
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c Add lines 5a and 5b
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5c
6
Subtract line 5c from line 4. If zero or less, skip lines 7 through 11 and enter -0- on line 12 .
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6
7
Gross receipts of related supplier and FSC or controlled group from foreign and domestic sales of the
product or product line
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7
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Costs and expenses of related supplier and FSC or controlled group allocable
to gross income from sales:
a Cost of goods sold attributable to property sold .
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8a
b Expenses allocable to gross income .
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c Add lines 8a and 8b
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8c
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Subtract line 8c from line 7. If zero or less, skip lines 10 and 11 and enter -0- on line 12 .
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10
Overall profit percentage. Divide line 9 by line 7. Check if the controlled group optional method is used
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%
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11
Overall profit percentage limitation. Multiply line 4 by line 10 .
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11
12
Combined taxable income. Enter the smaller of line 6 or line 11
12
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Section B—23% of Combined Taxable Income Method (see instructions)
13
Multiply line 3 or line 12 (as elected by related supplier) by 23% (0.23) .
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13
14
FSC profit. Enter amount from line 13. If marginal costing is used, enter the smaller of line 3 or line 13
14
Section C—1.83% of Foreign Trading Gross Receipts Method (see instructions)
15
Multiply line 1 by 1.83% (0.0183) .
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15
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Multiply line 3 or line 12 (as elected by related supplier) by 46% (0.46) .
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16
17
FSC profit. Enter the smallest of line 3, line 15, or line 16 .
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Part II
Transfer Price From Related Supplier to FSC
18
Enter amount from line 1 or line 4, whichever is applicable .
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18
19a FSC profit. Enter amount from line 14 or line 17, whichever is applicable .
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b FSC expenses allocable to foreign trading gross receipts from transaction
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c Add lines 19a and 19b
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19c
20
Transfer price from related supplier to FSC. Subtract line 19c from line 18 (see instructions) .
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Part III
FSC Commission From Related Supplier
21
FSC profit. Enter amount from line 14 or line 17, whichever is applicable .
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21
22
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FSC expenses allocable to foreign trading gross receipts from transaction
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23
FSC commission from related supplier. Add lines 21 and 22 (see instructions)
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For Paperwork Reduction Act Notice, see the Instructions for Form 1120-FSC.
Schedule P (Form 1120-FSC) (Rev. 9-2017)
Cat. No. 11537Y
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