DaveF1006
Expert Alumni

Deductions & credits

It depends. A partnership with no foreign source income, no assets generating foreign source income, and no foreign taxes paid or accrued may be reporting information to partners on Schedules K-3. For example, if you claim a credit.

 

If you have only US income, with no foreign income reported on your K-3, you do not need to file the K-3 because there is no Foreign Tax Credit to claim.

 

@edayxe 

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