# US tax form 5471 schedule H



## otusweb

Filling form 5471 for the first time and trying to get it right... I think i got most of the form, but schedule H still got me stumped.

How do i calculate those additions and subtractions?

Thanks in advance, olivier


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## Bevdeforges

If you contend that your French books are accounted for more or less under US GAAP, then you have no adjustments to make in Schedule H. (At least that's what I get from reading the instructions.)

Given "normal" accounting policies and procedures in France, about the only adjustment you "might" have is if you regularly take some kind of inventory adjustment at the end of the year to adjust the valuation of your inventory for current costs. (US GAAP requires you to use historic cost - unless your inventory has suffered some loss in valuation, in which case you use "lower of cost or market") Similarly, depreciation on assets normally is based on the buying price of the assets, like in the US, and taken on straight-line basis. So, unless you're doing some fancy accounting, it's very likely you have no adjustments to make in Schedule H. 
Cheers,
Bev


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