Self-Study: Surgent's Schedules K-2 and K-3: Preparation of Forms

Overview

This course is available until April 30, 2025.

Many partnerships and S corporations are now required to complete the voluminous Schedules K-2 and K-3 to report foreign-related tax information. Updated for the 2023 tax year, this course is an essential guide for tax preparers on how to tackle the preparation of these forms. Understanding and preparing these forms requires a basic knowledge of various international tax topics. The course includes a brief discussion of key international tax concepts, a detailed walk-through of what information is required to be reported in different parts of the schedules, and practical advice from the field. The course also includes three comprehensive case studies on how the form should be completed for operating, real estate rental, and investment partnerships.

Please note: Surgent also offers a companion course, “Schedules K-2 and K-3: Filing Requirements” (KFR2).

Highlights

• How to read and complete Parts II and III for Foreign Tax Credit
• Practical tips on how to tackle Parts IV and IX for corporate partners
• How to correctly fill out Parts X and XIII for foreign partners
• Comprehensive examples for operating, real estate rental, and investment partnerships with filled-in sample forms

Prerequisites

None

Designed For

Any tax practitioner preparing or reviewing relevant partnership and S corporation tax returns for 2023

Objectives

• Identify and understand what information is required to be reported on Schedules K-2 and K-3