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Level 1
March 10, 2022

1065 form k-2

  • March 10, 2022
  • 1 reply
  • 5 views

I have a partnership client with dividends received and foreign taxes paid from a US mutual fund.  Can anyone help with how to report the information on schedule K-2?

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    1 reply

    sjrcpa
    Level 15
    March 13, 2022

    Look at the K-2 instructions. you'll need the amount of US dividends, foreign dividends, other gross income, expenses and foreign tax. The dividends are  passive category income.

    Income goes in Part II Section 1. Expenses in Part II Section2. Foreign tax goes in Part III Section 4

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