SCHEDULE P 

(Form 1120-F)

Department of the Treasury 

Internal Revenue Service

List of Foreign Partner Interests in Partnerships

▶ Attach to Form 1120-F.

▶ See separate instructions.

OMB No. 1545-0126

2010

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

Part I List of Foreign Partner Interests in Partnerships

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

(d) For each partnership, 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

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) 

See instructions if reconciling to Schedule K-1 (Form 1065-B).

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 Other 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 Other gross income reported on 

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

7 Other gross ECI reported on Schedule 

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

8 Other non-interest expenses reported 

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

9 Other non-interest expenses reported 

on Schedule K-1, allocated to gross 

ECI . . . . . . . . . . . .

10 Total gross income. Add lines 2 

and 6 . . . . . . . . . . .

11 Total gross effectively connected 

income. Add lines 3 and 7 . . . .

12 Interest expense on lines 1 through 3, 

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

13 Other interest expense reported on 

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

14a Total interest expense. Add lines 12

and 13 . . . . . . . . . . .

b Interest expense directly allocable 

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

(ii)(B). (Note: Include the line 14b total 

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

c Subtract line 14b from line 14a. (Note:

Enter the line 14c total 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) 2010
Schedule P (Form 1120-F) 2010 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

15 Section 705 outside basis . . . .

16a 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 16a and 16b . . . . .

d Subtract line 16c from line 15 . . .

17 Partner’s liabilities under Regulations 

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

the line 17 total on Schedule I, line 8, 

column (b).) . . . . . . . . .

18 Partner’s outside basis under 

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

Add lines 16d and 17 . . . . . .

19 Partner’s outside basis allocable to ECI 

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

(Note: Enter the line 19 total on Schedule 

I, line 5, column (b).) . . . . . . .

20 Enter “income” or “asset” to indicate 

the allocation method used on line 19 

(see instructions) . . . . . . .

Schedule P (Form 1120-F) 2010