Article: 50139

What is Schedule K-3?

Schedule K-3 is an extension of Schedule K-1 and is used to report a partner’s or shareholder‘s share of items related to foreign transactions and activities.

It provides detailed information required to properly complete Form 1116, which is used to claim the Foreign Tax Credit.

Additional Information

For further information regarding Schedule K-3, please refer to the IRS Schedule K-3 instructions, as well as the IRS Form 1116 instructions.