New Schedule K-3

[MW66071]

If we own master limited partnerships that provide Schedule K-1 reporting foreign source income, it seems that we cannot file our tax returns until we receive Schedule K-3, which the MLPs say will not be available until the summer.   Do others concur?

[DavidD66]

The IRS announced in December it would not be ready to accept K-2 and K-3 data via the modernized e-File/extensible markup language e-filing protocol until March 20, 2022, for partnerships; and in mid-June for S corporations.  As a result, you probably won't receive those forms until then.  Your options would be to file without that information, or file an extension and wait for the K-2 and K-3 Forms.