Neutronics parameters including the source neutron spectrum, activation rates, and the tritium breeding in the Li2O test zone of the Fusion Neutron Source Phase II experiment performed at the Japan Atomic Energy Research Institute are calculated using the Monte Carlo code MORSE with ENDF/B-V transport and reaction cross sections. Favorable comparisons between the measured and calculated results are achieved for the 27Al(n,α), 58Ni(n,p), 93Nb(n,2n), and 197Au(n,2n) reactions. Calculated 58Ni(n,2n) and 197Au(n,γ) reactions do not agree with measured values within 10 to 40%. For the nickel reaction, the differences may be due to poor data in the ORACT files, while discrepancies for the gold data may be due to unknown quantities of hydrogen-rich epoxy used to coat the Li2CO3 blocks used in the test assembly walls. The calculated tritium breeding in the Li2O agrees with experimental values within ±10% for 6Li and ±15 to 20% for 7Li.