Client is a US partnership with a foreign partner. There are K2 and K3 filing requirements that was missed in the original 1065 filing. Now the K2 and K3 will be filed. The issue is if the K2 and K3 can be filed separately with an explanation or an AMENDED 1065 return would have to be filed. Note the only reason for the amended 1065 would be the missed K2 and K3 and there is no impact to the 1065 taxable income or loss
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See if this helps (see 3rd paragraph). Did you find this in your research? (NOTE: may not be guaranteed in the current environment that IRS will contact you)
https://www.irs.gov/newsroom/tips-fo...eir-tax-returnLast edited by TAXNJ; 07-21-2022, 01:19 PM.Always cite your source for support to defend your opinion
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