K-3 Overflow Statement Extraction Support

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General Criteria for Extraction

Overflow statement extraction is only supported from statements located after the first page of a recognized Schedule K-3 and before another recognized form, e.g., a recognized state Schedule K-1. 

Overflow statement pages may be interleaved with or after the pages of Schedule K-3. 

Sections and Formats Supported for Extraction

Overflow statements for the following sections are fully supported for the formats shown. 

Part 2, Section 1

Part 3, Section 4

All lines are supported with the exception of Line 2 of this section: “Reduction of taxes (total)”, which will be forthcoming with a future release.

Page 1

Page 2

Part 7, Section 1

Part 7, Section 2

Limited support is also available for Part 2, Section 1 overflow statements presented in a similar layout to the example below.

Circular 230 Disclosure

To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this software (including any reports or downloads) is not intended or written to be used and cannot be used for the purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) supporting, promoting, marketing or recommending to another party any transaction or matter addressed herein. This software is for informational purposes only and should not be regarded as tax advice. Please consult your tax advisor or attorney for guidance on your individual tax situation.

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