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Level 6
September 13, 2022
Solved

S corp Received 3 K-3s

  • September 13, 2022
  • 2 replies
  • 20 views

I didn't to create any K-3s until last week.  In those cases it was one K-3 received.  This client has three.  For the k-2 that I create, I thought it would be entering each K-3 received onto 3 different K-2s separately (that then flows to a K-3 for each shareholder).  Is this something where I just create one K-2 and manually add up the data for each of the three K-3s received?    Sorry if this is a basic question, but as I said I didn't have to create any until last week. I did have 1040 clients receiving them, but that was different as it was a personal return.  Thanks 

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Best answer by sjrcpa

"manually add up the data for each of the three K-3s received",

Yes, plus the relevant info from the S Corps operations apart from its outside K-1 investments.

2 replies

sjrcpa
sjrcpaAnswer
Level 15
September 13, 2022

"manually add up the data for each of the three K-3s received",

Yes, plus the relevant info from the S Corps operations apart from its outside K-1 investments.

The more I know the more I don’t know.
DTNY07Author
Level 6
September 13, 2022

Thanks for the info