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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Re: foreign K-1 equivalent
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.
