How do I input Schedule K-3 information with a 1040 return using worksheet view in CCH® ProSystem fx® Tax and CCH Axcess™ Tax?

  • Article Type:
  • How To
  • Last Modified:
  • 03/15/2022

Objectives

Input Foreign transaction data received with a Schedule K-3 from a partnership or S Corporation return by Schedule K-1.

Environment

CCH Axcess™ Tax
1040
worksheet
8865
k-2, k-3

Procedure

In the 1040 system, the input for foreign income received through a K-1 has not changed in response to the Schedule K-3 - 2021. The descriptions now mention specific parts of the Schedule K-3.
  • In Partnership passthrough worksheet > Section 3 - Activity Continued, grid 16, we can see blue text to the right of the grid referring to Schedule K-3.

  • In the SCorp Passthrough worksheet > Section 3 - Activity Continued > Grid 14 similarly has blue text to the right of the input grid which guides preparers to input specific parts from the K-3 received.

Additional Information

N/A

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