1) is there a foreign tax credit on line 21?
2) are you a foreign unit holder?
if you answer no to both it is unlikely that you have any k-3 reporting obligations. (you will get a K-3 but all the numbers, if any, will be in column a which are not reportable by US citizens) so
a) uncheck box 16 and file now and amend later if needed or
b) extend your return (any balance due must be paid by 4/18/2023
i
the following is the wording on one cover letter from a PTP/MLP
In addition, a limited number of unitholders (primarily foreign unitholders and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. Accordingly, the Schedule K-3 is not included in the enclosed tax package and will be available ............................ and refer to the appropriate federal laws and guidance or consult with your tax
advisor.
here's another one
The Partnership will report items of international tax relevance to our partners on Schedule K-3. All of our income is effectively connected with a United States trade or business. A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. We do not expect to report either (1) any foreign
income taxes paid or accrued on Schedule K-1, Line 21 or (2) any foreign-derived intangible income.
so read your cover letter.
