JohnB5677
Expert Alumni

Deductions & credits

The K-3 reports a partner’s share of items of international tax relevance. It's an extension of the Form 1065 Schedule K-1.

The US would not be included as a foreign international country.  Therefore, it's not listed.

 

You should contact the preparer of the K-1to confirm there is no international activity.  There is an exception that states you may not need a K-3 at all.

 

New exception to completing Schedule K-3.

"Under a new exception, in certain cases, partnerships with no or limited foreign activity are not required to furnish Schedule K-3 to you for tax years beginning in 2022. See Domestic Filing Exception in the Partnership Instructions for Schedules K-2 and K-3 (Form 1065)." 

New exception to completing Schedule K-3  Also see:  Domestic filing exception (exception to filing Schedules K-2 and K-3)

 

Basically, if there is no international activity, you're not required to enter anything for the K-3.

 

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