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foreign K-1 equivalent
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ed3
Level 1
10-06-2021
03:32 PM
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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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sjrcpa
Level 15
10-06-2021
04:33 PM
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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.
