Managing International Tax Data: Schedule K-3 Reporting

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To manage international reporting data for Schedules K-3, users will navigate to the International tab within Scenario Builder. This tab enables toggling between active international jurisdictions using a dropdown at the top of the page, and navigating between form sections to input relevant data.

Managing Data Across Partners (K-2 Tab)

The K-2 tab is used to manage international reporting items that apply across all partners. Within this tab, users can add multiple events per line item.

Partner-Specific Data (K-3 Tab)

The K-3 tab is used to manage data on a partner-by-partner basis, specifically for Part I of the K-3 form. Each partner’s data can be entered independently to ensure accurate and complete reporting of their international items.

Bulk Import Support

Bulk data management via import is currently available for Part II, Section 1, with additional sections to be supported in future updates. Import templates contain detailed guidance on formatting and required fields and can be accessed directly from within the application.

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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