Signature Tax Event 2022 Deck FINAL | Page 89

Overview 8865 K-2 and K-3

• Form 8865 Schedule K-2 Partners ’ Distributive Share Items – International
• Part I : Partnership ’ s other current year international information
• Part II : Foreign tax credit limitation
• Part III : Other information for preparation of Form 1116 or 1118
• Part IV : Information on partners ’ IRC section 250 deduction with respect to foreign derived intangible income ( FDII )
• Part V : Distributions from foreign corporations to partnership
• Part VI : Information on partners ’ IRC § 951 ( a )( 1 ) Subpart F and § 951A GILTI Inclusions from CFCs
• Part VII : Information to complete Form 8621 regarding PFICs and QEF Information
• Part VIII : Partners ’ information for Base Erosion and Anti-Abuse Tax ( BEAT ) IRC § 59A
• Form 8865 Schedule K-3 Partner ’ s Share of Income , Deductions , Credits , etc .– International
• Part I : Partner ’ s share of partnership ’ s other current year international information
• Part II : Foreign tax credit limitation
• Part III : Other information for preparation of Form 1116 or 1118
• Part IV : Information on partner ’ s IRC section 250 deduction with respect to foreign derived intangible income ( FDII )
• Part V : Distributions from foreign corporations to partnership
• Part VI : Information on partner ’ s IRC § 951 ( a )( 1 ) Subpart F and § 951A GILTI Inclusions from CFCs
• Part VII : Information to complete Form 8621 regarding PFICs and QEF Information
• Part VIII : Partner ’ s information for Base Erosion and Anti-Abuse Tax ( BEAT ) IRC § 59A