Courses

Surgent's Schedules K-2 and K-3: Filing Requirements

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Member Price: $99.00 Non-Member Price: $129.00

Date/Time:: May 15, 2024, 2:00pm–4:00pm
Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Taxes: 2.00
Fields of Study:: Taxes
Level:: Basic

Many partnerships and S corporations are now required to complete the voluminous Schedules K-2 and K-3 to report foreign-related tax information. Updated for the 2023 tax year, this course is an essential guide for tax preparers on how to identify which entities need to complete these schedules and how to identify which parts are applicable to a given taxpayer. The filing requirements are broad and often not very intuitive, catching many practitioners unaware that more schedules and parts are applicable to more taxpayers than anticipated. This course includes a deep dive into the domestic filing exception, as well as a discussion of filing requirements of each part of Schedule K-2.

Please note: Surgent also offers a companion course, "Schedules K-2 and K-3: Preparation of Forms" (KPF2).

Objective

Understand filing requirements for Schedules K-2 and K-3
Identify what parts of Schedules K-2 and K-3 need to be completed

Highlights

IRS goals in requiring these schedules
Detailed discussion of the domestic filing exception for 2023 tax year
Filing requirements and exceptions for every part of Schedules K-2 and K-3
Examples based on client situations encountered in practice

Designed For

Any tax practitioner preparing or reviewing relevant partnership and S corporation tax returns for 2023

Prerequisite

None

Advanced Preparation

None