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Forms K-2 & K-3: Theoretical & Practical Overview

  • 09/27/2022
  • 2:30 PM - 3:31 PM
  • Webinar-ACPEN

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Please join us for an overview of the Forms K-2 & K-3 that were largely new for the 2021 tax year. Forms K-2 & K-3 are created at the S Corporation/Partnership level, to report international transactions, and then are used by the individual shareholders/partners for reporting on their personal 1040s. This is vital information for any S Corporation or Partnership tax member and all tax preparers who have 1120Ss, 1065s, and/or 1040s with some level of international component.

          Learning Objectives: 

          • Gain an understanding of K-2s & K-3s and know your way around the practical completion of the forms. As time allows, may also cover sourcing rules to determine whether a transaction is domestic-sourced or foreign-sourced.

          Key Topics:

          • Form K-2s and K-3s
          • General Discussion Form K-2s and K-3s
          • Practical Implementation on 1065s, 1120Ss, and 1040s Sourcing of transactions (as time allows) 
                                                                                                              Designed for:  CPAs, EAs with clients with any international tax exposure. Any individual who prepares their own taxes and has international investments may also be interested.

                                                                                                              Level: Update

                                                                                                              Instructor: Alexander August, Keith Hayden

                                                                                                              Developer: MICPA

                                                                                                              CPE Credits: 1

                                                                                                              Area(s) of Study: Taxes - Technical

                                                                                                              Prerequisite: None


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