A Practical Approach to Quickly Filling Out Forms K-2 and K-3 (Completed)

The IRS recently updated filing rules on the requirement for S corporations and partnerships to file Schedules K-2 and K-3. All S corporations and partnerships must either file these forms or qualify for an exemption. Greg will cover how to quickly and efficiently file Forms K-2 and K-3 for 99% of your clients. File Forms K-2 and K-3 now for almost all your partnerships and S corporation clients.

Topics Covered

• How to file the forms today, without slowing down your tax season
• Who qualifies for the exemption from filing these forms and how to document who qualifies
• How to complete the forms with an example that you can use as a template

Learning Objectives

• Recognize how to prepare Forms K-2 and K-3
• Identify clients who qualify for exemption
• Describe the documenting qualification for the exemption

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic tax preparation experience.

Advance Preparation
None