Understanding Forms K-2 and K-3
Date: Thursday, December 18, 2025
Instructor: Allison McLeod
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Schedules K-2 and K-3 for reporting partners' income, deductions, and credits from foreign activity are now required for passthrough returns (Form 1065, 1120-S and 8858). This requirement starts with returns with a tax year that ends in 2021. This course will discuss each part of these schedules and explain these new reporting obligations in detail.
Who Should Attend
This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise individuals or businesses. All in-house and public practice professionals involved with tax compliance and who want up-to-date information on partnership and S corporation taxation.
Topics Covered
- Purpose of K-2s and K-3s
- IRS Guidance for Preparers and Taxpayers
- Domestic Filing Exception
- Other Considerations
Learning Objectives
- Understand the purpose of Schedule K-2 and Schedule K-3
- Review components of each form and the areas which will need to be completed
- Learn about these new forms that affect partnerships and S Corporations
- Find out when they must be filed
- Determine which taxpayers need to complete these forms
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
