Schedules M-1 And M-2 (Form 1120-F) - Reconciliation Of Income (Loss) And Analysis Of Unappropriated Retained Earnings Per Books - 2015
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1Reconciliation of Income (Loss) and Analysis of
SCHEDULES M-1 and M-2
OMB No. 1545-0123
(Form 1120-F)
Unappropriated Retained Earnings per Books
2015
Information about Schedules M-1 and M-2 (Form 1120-F) and its instructions is at
▶
Department of the Treasury
Attach to Form 1120-F.
Internal Revenue Service
▶
Name of corporation
Employer identification number
Reconciliation of Income (Loss) per Books With Income per Return
Schedule M-1
Note. The corporation may be required to file Schedule M-3 (see instructions).
7
Income recorded on books this year
1
Net income (loss) per books .
.
.
.
.
not included on this return (itemize):
2
Federal income tax per books .
.
.
.
$
3
a Tax-exempt interest
Excess of capital losses over capital gains
4
Income subject to tax not recorded on
b Other (itemize):
books this year (itemize):
8
Deductions on this return not charged
against book income this year (itemize):
5
Expenses recorded on books this year not
deducted on this return (itemize):
$
a Depreciation
.
.
$
$
a Depreciation .
.
. .
b Charitable contributions
$
b Charitable contributions
c Other (itemize):
c Travel and entertainment $
d Other (itemize):
9
Add lines 7 and 8 .
.
.
.
.
.
.
6
Add lines 1 through 5 .
.
.
.
.
.
.
10
Income—line 6 less line 9 .
.
.
.
Analysis of Unappropriated Retained Earnings per Books
Schedule M-2
1
5
a Cash
Balance at beginning of year
.
.
.
.
Distributions:
.
.
.
.
2
b Stock .
Net income (loss) per books .
.
.
.
.
.
.
.
3
Other increases (itemize):
c Property .
.
.
6
Other decreases (itemize):
7
Add lines 5 and 6 .
.
.
.
.
.
.
4
8
Add lines 1, 2, and 3 .
.
.
.
.
.
.
Balance at end of year (line 4 less line 7) .
Who Must File
complete Schedule M-1 instead of
• Employee achievement awards over $400.
completing Parts II and III of Schedule
• The cost of entertainment tickets over
Generally, any foreign corporation that is
M-3 (Form 1120-F). If the foreign
face value (also subject to the 50% limit
required to complete Form 1120-F,
corporation chooses (2), then Schedule
under section 274(n)).
Section II must complete Schedules M-1
M-1, line 1 must equal Schedule M-3
• The cost of skyboxes over the face
and M-2 (Form 1120-F). However, the
(Form 1120-F), Part I, line 11. See the
value of nonluxury box seat tickets.
following rules apply.
Instructions for Schedule M-3 (Form
• The part of luxury water travel expenses
Do not complete Schedules M-1, M-2,
1120-F) for more information.
not deductible under section 274(m).
and M-3 if total assets at the end of the
tax year (Schedule L, line 17, column (d))
Note. If Schedule M-3 is completed in
• Expenses for travel as a form of
are less than $25,000.
lieu of Schedule M-1, the corporation is
education.
still required to complete Schedule M-2.
Complete Schedule M-3 in lieu of
• Other nondeductible travel and
Schedule M-1 if total assets at the end
entertainment expenses.
Specific Instructions
of the tax year that are reportable on
Line 7a. Tax-exempt interest. Report any
Schedule L are $10 million or more.
Schedule M-1
tax-exempt interest received or accrued,
A corporation filing Form 1120-F that
including any exempt-interest dividends
is not required to file Schedule M-3 may
Line 1. Net income (loss) per books.
received as a shareholder in a mutual fund
voluntarily file Schedule M-3 instead of
The foreign corporation must report on
or other regulated investment company.
Schedule M-1. See the Instructions for
line 1 of Schedule M-1 the net income
Also report this same amount in item P at
Schedule M-3 (Form 1120-F) for more
(loss) per the set or sets of books taken
the top of page 2 of Form 1120-F.
information.
into account on Schedule L.
Schedule M-2
Foreign corporations that (a) are
Line 5c. Travel and entertainment
Line 1. Beginning balance of
expenses. Include any of the following:
required to file a Schedule M-3 (Form
unappropriated retained earnings. Enter
1120-F) and have less than $50 million in
• Meal and entertainment expenses not
the beginning balance of unappropriated
total assets at the end of the tax year or
deductible under section 274(n).
retained earnings per the set(s) of books
(b) are not required to file a Schedule
• Expenses for the use of an
taken into account on Schedule L.
M-3 (Form 1120-F) and voluntarily file a
entertainment facility.
Note. For additional information for
Schedule M-3 (Form 1120-F) must either
• The part of business gifts over $25.
Schedule M-2 reporting, see the
(1) complete Schedule M-3 (Form 1120-F)
• Expenses of an individual over $2,000
Instructions for Schedule M-3 (Form
entirely or (2) complete Schedule M-3
that are allocable to conventions on
1120-F).
(Form 1120-F) through Part I and
cruise ships.
For Paperwork Reduction Act Notice, see the Instructions for Form 1120-F.
Schedules M-1 and M-2 (Form 1120-F) 2015
Cat. No. 49678K
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