How do I input Schedule K-3 information with a 1040 return using interview forms in CCH® ProSystem fx® 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® ProSystem fx® Tax
1040
Interview view
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 other than the descriptions of several fields now mention specific parts of the Schedule K-3.
  • In IRS K-1 1065 Passthrough Income or Loss > page 2 and 3 - regarding line 16 - Foreign Transactions from Schedule K-3, Boxes 220-225, 226-228, 152, 409, 999, and 240.

  • In IRS K-1 1120S Passthrough Income or Loss > page 2 and 3 - regarding line 14 - Foreign Transactions from Schedule K-3, Boxes 180-187,  188, and 200.

Additional Information

N/A

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