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Business & farm
This answer was very helpful, but I had to do a little more work to get the number I needed to get the Gross Income Sourced at Beneficiary Level: Foreign Source Income.
My 1099-DIV showed Total Ordinary Dividends and the Supplemental Information provided with my 1099-DIV showed the Total Foreign Income. The Ordinary Dividends transferred to my Schedule K-1 was less than the Total Ordinary Dividends on my Schedule K-1, however, so I had to prorate the Total Foreign Income as follows:
Total Foreign Income / Total Ordinary Dividends X Ordinary Dividends (on Schedule K-1) = Foreign Source Income at Beneficiary Level.
March 28, 2025
11:04 AM