1120 Սինգապուր

Փաստաթղթի պոեմները (մոտ 1120 թ.)

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Department of the Treasury

Internal Revenue Service

Instructions for Schedule PH

(Form 1120)

(Rev. December 2016)

(Use with the November 2015 revision of Schedule PH (Form 1120))

U.S. Personal Holding Company (PHC) Tax

Section references are to the Internal

Revenue Code unless otherwise noted.

last half of the tax year, more than

50% in value of the corporation's

outstanding stock is directly or

indirectly owned by five or fewer

individuals.

earnings stripping rules as current

year deductions and losses.

Future Developments

Specific Instructions

For the latest information about

developments related to Schedule PH

(Form 1120) and its instructions, such

as legislation enacted after they were

published, go to www.irs.gov/

form1120.

Important: To determine if a

corporation is a PHC, follow the steps

below to complete Schedule PH and

the Worksheet, later.

For purposes of this requirement,

the following organizations are

considered individuals.

A qualified pension, profit-sharing,

or stock bonus plan described in

section 401(a).

1. Complete Part I. Then,

complete lines 1 through 5 of the

Worksheet.

A trust described in section 501(c)

(17) that provides for the payment of

supplemental unemployment

compensation under certain

conditions.

2. Complete Part II and then line 6

What’s New

For tax years beginning after

of the Worksheet.

3. Generally, if line 6 of the

December 31, 2015, a corporation

can elect to treat dividends paid after

the end of the tax year and before the

16th day of the 4th month following

the end of the tax year as paid during

its tax year. Special rules apply to

corporations with tax years ending in

June. See the instructions for line 12.

Worksheet is 60% or more and the

stock ownership requirement (Part IV)

is met, the corporation must file

Schedule PH and pay the PHC tax.

However, see Exceptions above.

A private foundation described in

section 509(a).

A part of a trust permanently set

aside or exclusively used for the

purpose described in section 642(c).

4. If the corporation determines

that it must file Schedule PH and pay

the PHC tax, it must complete Part III,

line 26, to figure the amount of the

PHC tax.

Exceptions. The term “personal

holding company” does not include

the following corporations, even if the

two requirements above are met.

Tax-exempt corporations.

General Instructions

Purpose of Schedule

Part I. Undistributed

Personal Holding

Company Income

Banks, domestic building and loan

associations, and certain lending or

finance companies.

Use Schedule PH to figure the

personal holding company (PHC) tax.

Life insurance and surety

Who Must File

Additions

companies.

A corporation that is a PHC must file

Schedule PH by attaching it to its

income tax return.

Certain small business investment

companies operating under the Small

Business Investment Act of 1958.

Corporations under the jurisdiction

of the court in a title 11 or similar case.

Foreign corporations.

Line 1. Taxable income before net

operating loss deduction and spe-

cial deductions. Enter the amount

from Form 1120, line 28. If the income

on line 28 was figured using section

443(b) (placing the income on an

annual basis), refigure it without using

that section.

Personal Holding

Company

Generally, a corporation is a PHC if it

meets both of the following

requirements.

At-risk, passive activities, and

earnings stripping rules. A

corporation that has an activity

subject to the at-risk or passive

activity rules or interest expense

subject to the earnings stripping rules

(or both) may have deductions and

losses suspended or limited under

these rules. As a result, do not use

deductions and losses limited or

suspended in any of the PHC

Line 3. Excess expenses and de-

preciation. If the corporation earned

rent or other compensation for the use

of, or right to use, property and that

rent or compensation was less than

the total allowable expenses and

depreciation, complete Part V in most

cases and enter the excess on line 3.

However, if the corporation can

1. PHC income test. At least 60%

of the corporation's adjusted ordinary

gross income for the tax year is PHC

income. See the instructions for Part II

and the Worksheet for Figuring

Ordinary Gross Income, Adjusted

Ordinary Gross Income, and the PHC

Income Test (Worksheet), later. Also,

see Specific Instructions below.

computations. Treat any prior year

deductions and losses allowed under

the at-risk, passive activity, and

establish that it meets all three of the

requirements listed below, it can

attach a statement instead of

2. Stock ownership

requirement. At any time during the

Dec 21, 2016

Cat. No. 10826K

completing Part V. The statement

must include:

amount of dividends excluded on

line 14b.

Line 15b. Amounts excluded. Enter

the total of interest excluded on

line 15b. The following interest can be

excluded from PHC income.

Line 7. Net operating loss. Instead

of the net operating loss deduction

provided in section 172, a deduction

is allowed for the net operating loss

(as defined in section 172(c)) for the

preceding tax year figured without the

special dividends-received

A list of the deductions, with the

complete facts, circumstances, and

arguments supporting them, and

The information required by

Regulations section 1.545-2(h)(2).

1. Interest constituting rent.

To qualify, the corporation must

deductions for corporations.

2. Interest on amounts set aside in

a reserve fund under chapter 533 or

535 of Title 46, United States Code.

3. Interest received by a broker or

dealer (within the meaning of section

3(a)(4) or (5) of the Securities

Exchange Act of 1934) in connection

with:

establish that:

Line 10. Total. Include in the total for

line 10 any deduction for amounts

used or irrevocably set aside to pay or

retire qualified indebtedness under

section 545(c) (as in effect before

November 5, 1990). See Regulations

section 1.545-3. Enter the amount and

“Section 545(c)” on the dotted line

next to line 10.

The rent or other compensation it

received was the highest obtainable

(if none was received, it must show

that none was obtainable),

The property was held in the course

of a business carried on for profit, and

There was a reasonable

expectation that the property's

operation would result in a profit, or

that the property was necessary to

conduct the business.

a. Any securities or money market

instruments held as property

Line 12. Dividends paid after the

end of the tax year. Generally, the

corporation can elect to treat

described in section 1221(a)(1),

b. Margin accounts, or

Deductions

c. Any financing for a customer

secured by securities or money

market instruments.

dividends (other than deficiency

dividends) paid after the end of the

year and before the 16th day of the

4th month following the end of the tax

year as paid during its tax year.

However, a corporation with a fiscal

tax year ending on June 30, or a

corporation with a short tax year

ending anytime in June, can elect to

treat dividends (other than deficiency

dividends) paid after the end of the

year and before the 16th day of the

3rd month following the end of the tax

year as paid during its tax year. Enter

these dividends on line 12 but not in

Part VI.

Line 5. Federal and foreign in-

come, war profits, and excess

profits taxes not deducted in figur-

ing line 1. The corporation can

deduct:

4. Interest from line 4d of the

Worksheet.

See sections 543(a)(1) and 543(b)

(2)(C) for more information.

Line 18. Rents. Rents can be

excluded from PHC income if both of

the following tests are met.

Federal income taxes accrued

during the tax year, and

Income, war profits, and excess

profits taxes accrued (or deemed

paid) during the tax year to foreign

countries and U.S. possessions.*

Test 1. The adjusted income from

rents (line 18c) is at least 50% of

adjusted ordinary gross income.

The corporation cannot deduct:

The accumulated earnings tax

under section 531, or

Test 2. The sum of taxable

distributions (Part VI, line 3) and the

deduction for dividends paid after the

end of the tax year (Part I, line 12) is at

least equal to:

The PHC tax under section 541.

*The foreign tax credit is not

allowed against PHC tax. But, as

described above, the corporation can

take a deduction for taxes paid to

foreign countries and U.S.

Part II. Personal Holding

Company Income

Note. The term “ordinary gross

income” (used below) means line 3 of

the Worksheet. The term “adjusted

ordinary gross income” means line 5

of the Worksheet.

1. The excess, if any, of PHC

income, over

possessions even if a credit was

claimed when figuring the

2. 10% of ordinary gross income.

corporation's income tax.

For this purpose, PHC income

includes copyright royalties and

adjusted income from mineral, oil, and

gas royalties, but does not include the

amounts from lines 18c and 22.

If both of the above tests are met,

rents can be excluded from PHC

income. Do not complete lines 18a

through 18c.

If the rents cannot be excluded,

enter rents (as defined in section

543(b)(3)) on line 18a. Enter the

amount from line 4a of the Worksheet

on line 18b and complete line 18c.

Attach a schedule showing the type

of tax, the tax year, and the amount.

For more information, see section

545(b)(1).

A corporation may be subject to the

PHC tax if at least 60% of its adjusted

ordinary gross income for the tax year

is PHC income. Use Part II to figure

the amount of the corporation's PHC

income. Then, complete line 6 of the

Worksheet to determine if the

Line 6. Contributions. Figure the

deduction using the limitations under

sections 170(b)(1)(A), (B), (D), and

(E), but without sections 170(b)(2)

and (d)(1). When figuring the

corporation is a PHC.

Line 14b. Dividends excluded.

Dividends received by a U.S.

limitations under section 170(b)(1),

use taxable income figured with the

adjustments (other than the 10%

limitation) provided in sections 170(b)

(2) and (d)(1) and without any

shareholder (as defined in section

951(b)) from a controlled foreign

corporation (as defined in section

957(a)) are excluded from personal

holding company income under

section 543(a)(1)(C). Enter the total

See section 543(a)(2) for more

expenses and depreciation

information.

disallowed under section 545(b)(6).

-2-

use of, or right to use, copyrights on

works created in whole or in part by

any shareholder owning more than

10% of the corporation's stock.

See section 543(d) for more

information.

Line 19. Mineral, oil, and gas royal-

ties. Mineral, oil, and gas royalties

can be excluded from PHC income if

all three of the tests below are met.

Line 21. Produced film rents.

Produced film rents can be excluded

from PHC income if the rents

constitute at least 50% of ordinary

gross income. See section 543(a)(5)

for the definition of produced film

rents.

Line 22. Compensation received

for the use of corporation property

by a 25% or more shareholder.

This line applies only to a corporation

with other PHC income in excess of

10% of ordinary gross income. For

purposes of this limitation, other PHC

income is defined in section 543(a)(6)

(C).

Enter on line 22 amounts received

as compensation for the use of, or

right to use, tangible property of the

corporation by or for an individual,

who at any time during the tax year

directly or indirectly owned at least

25% in value of the corporation's

outstanding stock.

Test 1. The adjusted income from

mineral, oil, and gas royalties

(line 19c) is at least 50% of adjusted

ordinary gross income.

PHC income does not include:

stated above), or

Dividends from any corporation that

meets Test 1 above and Test 3 below,

and in which the corporation owns at

least 50% (by vote and value) of the

stock.

Test 2. PHC income is not more

than 10% of ordinary gross income.

For this purpose, PHC income

includes copyright royalties and the

adjusted income from rents, but does

not include line 19c.

Test 3. Total allocable deductions

allowable under section 162 (other

than compensation for personal

services rendered by a shareholder,

deductions for royalties paid or

Test 3. The deductions allowable

under section 162 (other than

compensation for personal services

rendered by a shareholder and

accrued, and deductions specifically

allowable under other sections) are at

least 25% of the excess of:

deductions specifically allowable

under other sections) are at least 15%

of adjusted ordinary gross income.

1. Ordinary gross income, over

2. The sum of royalties paid or

accrued and depreciation for

If all of the above tests are met,

mineral, oil, and gas royalties can be

excluded from PHC income. Do not

complete lines 19a through 19c.

Royalties received in

Line 23. Amounts received under

personal service contracts and

from their sale. This line applies

only if the individual who has

If mineral, oil, and gas royalties are

not excluded, enter the total mineral,

oil, and gas royalties (including

connection with the licensing of

computer software. Royalties

received in connection with the

licensing of computer software can be

excluded from PHC income if all four

of the tests below are met.

production payments and overriding

royalties) on line 19a. Enter the

performed, is to perform, or may be

designated to perform such services

owned at any time during the tax year

25% or more in value of the

amount from line 4b of the Worksheet

on line 19b and complete line 19c.

Test 1. The corporation is

engaged in the active business of

developing, manufacturing, or

producing computer software.

Line 20. Copyright royalties.

Note. For royalties received in

connection with the licensing of

computer software, see below.

excluded from PHC income if all three

of the tests below are met.

corporation's outstanding stock.

Enter amounts received under a

contract that requires the corporation

to furnish personal services if any

person other than the corporation has

the right to designate the individual

who is to perform the services (or if

the individual who is to perform the

services is designated in the

Test 2. The royalties are at least

50% of ordinary gross income.

Test 3. Total allowable deductions

under sections 162, 174, and 195 that

are allocable to the computer software

business are at least 25% of ordinary

gross income (or, the average of the

deductions for the 5 tax years ending

with the current tax year is at least

25% of the average ordinary gross

income for that period).

Test 1. Income from copyright

royalties is at least 50% of ordinary

gross income. For this purpose,

royalties received for the use of, or

right to use, copyrights or interests in

copyrights on works created in whole

or in part by any shareholder.

contract). Also include amounts

received from the sale or other

disposition of such a contract.

Line 26. PHC tax. The tax rate on

undistributed personal holding

company income is 20%.

Multiply the amount on Part I,

line 13, by 20%. Enter the result here

and on Schedule J (Form 1120),

line 8, or on the proper line of the

appropriate tax return.

Test 4. The sum of taxable

Test 2. PHC income is not more

distributions (Part VI, line 3) and the

deduction for dividends paid after the

end of the tax year (Part I, line 12) is at

least equal to the excess, if any, of:

than 10% of ordinary gross income.

For this purpose, PHC income

includes:

The adjusted income from rents

(line 18c);

1. PHC income (as defined in

section 543(d)(5)(B)), over

The adjusted income from mineral,

oil, and gas royalties (line 19c); and

2. 10% of ordinary gross income.

-3-

Worksheet for Figuring Ordinary Gross Income, Adjusted Ordinary Gross

Income, and the PHC Income Test

Keep for Your Records

Before you begin: (see instructions below)

1. Gross income. Insurance companies, other than life insurance companies, see section 543(c) . . . . . . . . 1

2. Less: Gains from the sale or disposition of capital assets and section 1231(b) property . . . . . . . . . . . . . . 2 (

3. Ordinary gross income. Combine lines 1 and 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

)

4. Adjustments:

a Deductions allocable to rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a

b Deductions allocable to certain royalties and working interests in oil and gas

wells . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c Deductions allocable to compensation described in section 543(b)(3)(D) . . . . . . . . . 4c

d Certain excluded interest income under section 543(b)(2)(C) . . . . . . . . . . . . . . . . . . . 4d

e Total adjustments. Add lines 4a through 4d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4e

5. Adjusted ordinary gross income. Subtract line 4e from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6. Complete Part II of Schedule PH. Divide Part II, line 25, by line 5 above. Enter the result as a

percentage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Important: If line 6 is less than 60%, the corporation is not a PHC. Do not file Schedule PH.

Generally, if line 6 is 60% or more and the stock ownership requirement of section 542(a) is met, the corporation is a PHC.

Complete Parts III and IV. For details and exceptions, see Who Must File and Personal Holding Company, earlier.

below) allocable to rents (as defined

in section 543(b)(3)).

Line 4c. Deductions allocable to

compensation. Compensation for

the use of, or right to use, tangible

personal property manufactured or

produced by the corporation does not

Worksheet Instructions

Line 1. Gross income. Enter gross

income as defined in section 61 and

the related regulations.

Line 4. Adjustments. Ordinary

gross income on line 3 must be

adjusted as described below. Each

type of income (rents, royalties,

income from working interests in oil

and gas wells, and certain excluded

rents) is separately adjusted by the

deductions allocable to it. Enter the

allocable deductions on lines 4a, 4b,

and 4c to the extent of the gross

income (for example, enter

Depreciation and amortization of

property (other than certain tangible

personal property not customarily

retained by any lessee for more than 3 count as rents if the corporation is

years).

engaged in substantial manufacturing

or production of the same type of

property during the tax year. Enter

deductions (listed below) allocable to

this type of compensation.

Depreciation and amortization of

property (other than certain tangible

personal property).

Property taxes.

Interest.

Rent.

Line 4b. Deductions allocable to

certain royalties and working

interests in oil and gas wells. Enter

deductions (listed below) allocable to

mineral, oil, and gas royalties

(including production payments and

overriding royalties) and to gross

income from a working interest in an

oil or gas well.

Property taxes.

Interest.

Rent.

deductions allocable to royalties on

line 4b, but do not enter more than the

gross income from royalties).

Also, in figuring adjusted ordinary

gross income, certain interest income

is excluded (see the instructions for

line 4d below).

Line 4d. Certain excluded

interest income. Include:

Depreciation and amortization.

Depletion.

Interest on a direct obligation of the

United States held for sale by a dealer

who is making a primary market for

these obligations, and

Property and severance taxes.

Interest.

Rent.

Interest on condemnation awards,

judgments, and tax refunds.

Line 4a. Deductions allocable to

rents. Enter deductions (listed

-4-

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1120 Սինգապուր

Փաստաթղթի պոեմները (մոտ 1120 թ.)

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