Get Irs 8873 2010-2025

Filing the IRS 8873 form can seem daunting, but with clear guidance, you can complete it easily online. This form is essential for claiming the extraterritorial income exclusion, enabling businesses to manage their foreign trading income more effectively.

Follow the steps to fill out the IRS 8873 with ease.

1. Press the ‘Get Form’ button to access the document and open it in your editor.
2. Begin with Part I where you will provide your name as shown on your return and your identifying number. Check the applicable boxes based on your elections under section 942.
3. Review lines 1 through 3 to indicate whether you are electing to exclude portions of your gross receipts. Be sure to attach any required schedules.
4. Proceed to lines 5 through 15 to answer questions regarding foreign economic processes and provide the necessary reporting basis information.
5. In Part II, enter your foreign trade income and foreign sale and leasing income for the qualifying transactions listed. Record amounts on the appropriate lines and ensure you follow the calculations carefully.
6. Continue to Part III if using marginal costing. Here, provide the costs and expenses allocable to foreign trade income. Make sure to total accordingly across the specified lines.
7. Move to Part IV, where you will calculate your net qualifying income, ensuring to consider deductions if applicable.
8. After completing all sections, save your changes. You can download, print, or share the completed form as necessary.

Complete your IRS 8873 online today to streamline your tax filing process.