K3 questions

[sam992116]

Will K3 will be separate form in Future or will it be incorporated  within k1 (like 1099 has interest, dividends and capital gain distribution all in 1 form)?

What is deadline for partnerships to send k3 or it will vary?

Last year I got k3 notice via email but then I have to go taxpackage website to get actual k3. What will be procedure in future? Will it depend of Partnership or are not partnerships required by IRS to mail k3 to limited partners?

I own few partnerships which did not bother to send me any notice of K3, I have to find out on my own from tax package  support to get copy of K3. How can I enable notification regarding availability of k3?

[sam992116]

Any one?

[DianeW777]

It remains to be seen.  We would have no knowledge at this time of any potential reporting changes to the K-3. The K-3 is specifically for international transactions.  See the instruction below for those who create the partnership returns.

Box 16. International Transactions 

If the partnership checked the box, see the attached Schedule K-3 with respect to items of international tax relevance. If the partnership did not check the box, the partnership attached a statement to the Schedule K-1 (or issued a statement prior to furnishing the Schedule K-1) notifying the partner that the partner will not receive Schedule K-3 from the partnership unless the partner requests the schedule.