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Level 1
Oct 6, 2021 8:32 PM UTC
Question

foreign K-1 equivalent

Client received a Equivalent K-1 from a foreign partnership which client holds a 1% interest. Only income on the form Qualified Dividends $325K.  Entity is not US based and therefore no EIN. Can't input a K-1 without it. Simply enter dividend income on Schedule B?  That is how the income will be taxed anyway.

 

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1 reply

sjrcpa
Level 15
Oct 6, 2021 9:33 PM UTC

I would.

Don't forget 8938 and any other foreign disclosure forms that may be needed.

The more I know the more I don’t know.