Where do I enter controlled foreign corporation info?

[greigoppenheimer]

I'm looking at purchasing shares in a foreign company.

I would then have more than 50% shareholding and understand that means that I have to report financials of that company as a CFC (Controlled Foreign Corporation).

I want to explore consequences of this but cannot see where this information needs to be updated in Turbo Tax (Basic)

[DS30 · Accepted solution]

You enter Controlled Foreign Corporation (CFC) information on Form 5471 which is then attached to your personal income tax filing (Form 1040).  TurboTax does not support Form 5471.