Scheduled K-2 & K-3s

Scheduled K-2 & K-3s


Description:  Schedules K-2 and K-3
for reporting partners’ income, deductions, and credits from foreign activity are
now required for passthrough returns (Form 1065, 1120-S and 8858).  This requirement starts with returns with a
tax year that ends in 2021. This course will discuss each part of these
schedules  and explain these new
reporting obligation in detail.

Who should Attend :  This course is suitable for Corporate tax and
finance executives, directors, managers and staff, CPAs,  Enrolled Agents, accountants, attorneys and
business/financial advisors who work with and advise individuals or businesses.  All in-house and public practice
professionals involved with tax compliance and who want up-to-date information
on partnership and S corporation taxation. 

Schedules K-2 and K-3 are promulgated by the IRS in
order to standardize the reporting of foreign-related tax information for
pass-through entities. Even pass-through entities that have no foreign
activities, investments, or partners may have a reporting requirement. This
course will present an introduction to Schedules K-2 and K-3, review the filing
requirements, and discuss the different parts of the schedules and what needs
to be included.

· Purpose of K-2s and K-3s

· IRS Guidance for Preparers and Taxpayers

· Domestic Filing Exception

· Other

 Learning objectives:  By the end of the course, the participant should be able to:

1. Understand
the purpose of Schedule K-2 and Schedule K-3

2. Review
components of each form and the areas which will need to be completed.

3. Learn
about these new forms that affect partnerships and S Corporations.

4. Find
out when they must be filed.

5. Determine
which taxpayers need to complete these forms.


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SKU: AM-128.23|Credits: 2| Federal Tax Law|Webinar|Allison McLeod Category: Tag: is registered with the National Association of  State Boards of Accountancy (NASBA) as a  sponsor of continuing professional education  on the National Registry of CPE Sponsors. State boards of accountancy have final authority on  the acceptance of individual courses for CPE  credit. Complaints regarding registered  sponsors may be submitted to the National  Registry of CPE Sponsors through its website: