DaveF1006
Expert Alumni

Deductions & credits

Some firms indiscriminately issue K-3's to partners thinking it's a requirement to issue even though no foreign income is distributed to a partner. The IRS states that if there is a Domestic Filing Exception for filing K-2 or K-3, these forms do not need to be issued. Please read this for more details and look under Domestic Filing Exception.

 

If you are certain that all of your income is US -based, you do not need to file a K-3. This is why there is no drop-down that includes the US.

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