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Enable generating zero schedules for Form 5471
Please enable generating schedules with zero input for Form 5471.
The IRS instructions say: When a schedule is required but all amounts are zero, the schedule should still be filed with one or more zero amounts.
So, for instance, if there are no distributions between a US person and the foreign subsidiary in a year, a preparer would need to generate Form 5471 Schedule R with no information. However, PTO shows a critical diagnostic and does not allow filing without entering an amount and date. There is a workaround to write "none" for the description and "12/31/2023" for the date. However, this shouldn't be a mandate as per IRS instructions.
