Partner's K-1, Box 16, Codes AA & AB

[360 Tax Martin]

Client has received a K-1 from a partnership which contains foreign transactions, code AA $5724 & code AB $162

How should these be reported on the individual return?

Thank you!

[PhoebeRoberts]

In the place you'd normally report gross receipts per Reg Sec 1.59A-7(e)(2)

https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf

https://www.bdo.com/insights/tax/international-tax/treasury-issues-final-beat-regulations