SCHEDULE P 

(Form 1120-F)

Department of the Treasury 

Internal Revenue Service

List of Foreign Partner Interests in Partnerships

▶ Attach to Form 1120-F.

▶ Go to www.irs.gov/Form1120F for instructions and the latest information.

OMB No. 1545-0123

2019

Name of corporation (foreign partner) Employer identification number (EIN)

Part I List of Foreign Partner Interests in Partnerships

(d) For each partnership interest, is the 

foreign corporation’s distributive share 

ECI, or treated as ECI, in whole or in part, 

with a U.S. trade or business determined

under section 875 (see instructions)?

(a) Name of partnership (b) Address (c) EIN 

A

Yes No

B

Yes No

C

Yes No

D

Yes No

Note: If the corporation has more than 4 partnership interests, continue on a separate page. See instructions.

Part II Foreign Partner Income and Expenses: Reconciliation to Schedule K-1 (Form 1065)

Schedules K-1

A B C D Total

1 Net income (loss) reported on lines 1 

through 3, Schedule K-1 . . . . .

2 Gross income included on lines 1 

through 3, Schedule K-1 . . . . .

3 Gross effectively connected income 

(ECI) on lines 1 through 3, Schedule K-1

4 Non-interest expenses on lines 1 

through 3, Schedule K-1 . . . . .

5 Non-interest expenses on lines 1 through 

3, Schedule K-1, allocated to gross ECI

6 Net income (loss) reported on Schedule 

K-1, other than on lines 1 through 3 .

7 Other gross income reported on 

Schedule K-1 . . . . . . . .

8 Other gross ECI reported on Schedule K-1

9 Other non-interest expenses reported 

on Schedule K-1 . . . . . . .

10 Other non-interest expenses reported 

on Schedule K-1, allocated to gross ECI

11 Total gross income. Add lines 2 and 7

12 Total gross effectively connected 

income. Add lines 3 and 8 . . . .

13 Interest expense on lines 1 through 3, 

Schedule K-1 . . . . . . . .

14 Other interest expense reported on 

Schedule K-1, lines 13 and 18 . . .

15a Total interest expense. Add lines 13

and 14 . . . . . . . . . . .

b Interest expense directly allocable 

under Regulations section 1.882-5(a)(1)

(ii)(B). (Note: Include the line 15b total 

on Schedule I, line 22.) . . . . .

c Subtract line 15b from line 15a. (Note:

Enter the portion of the line 15c total that 

constitutes interest on U.S. booked 

liabilities on Schedule I, line 9, column (b).) 

For Paperwork Reduction Act Notice, see the Instructions for Form 1120-F. Cat. No. 49677Z Schedule P (Form 1120-F) 2019
Schedule P (Form 1120-F) 2019 Page 2 

Part III Foreign Partner’s Average Outside Basis Under Regulations sections 1.882-5(b) and 1.884-1(d)(3)

Schedules K-1

A B C D Total

16 Section 705 outside basis . . . .

17a Partner’s liabilities included in outside 

basis under section 752 that give 

rise to directly allocable interest 

expense under Regulations section 

1.882-5(a)(1)(ii)(B) . . . . . . .

b All other liabilities included in partner’s 

outside basis under section 752 . .

c Add lines 17a and 17b . . . . .

d Subtract line 17c from line 16 . . .

18 Partner’s liabilities under Regulations 

section 1.884-1(d)(3)(vi). (Note: Enter 

the portion of the line 18 total on 

Schedule I, line 8, column (b) that 

represents U.S. booked liabilities under 

Regulations section 1.882-5(d).) . .

19 Partner’s outside basis under 

Regulations section 1.884-1(d)(3)(vi). 

Add lines 17d and 18 . . . . . .

20 Partner’s outside basis allocable to ECI 

under Regulations section 1.884-1(d)(3)

(i) and 1.882-5. (Note: The line 20 total 

should generally be entered on 

Schedule I, line 5, column (b). 

However, see the instructions for 

Schedule I, line 5, column (b) before 

entering an amount on that line.) . .

21 Enter “income” or “asset” to indicate 

the allocation method used on line 20 

(see instructions) . . . . . . .

Schedule P (Form 1120-F) 2019