4 Comments

Thank you - this is quite comprehensive. The most helpful is where to do an adjustment due to this newly popped instruction. Super useful information. Liked the format, too.

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No news on the payments in Iowa?

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author

No, so you’ll need to take a position based on your analysis.

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This is regarding K2/K3. Let me know if this is not the place to ask. I watched the Compass tax educators Business tax law update and other research but still need clarification. A US S corporation with 100% US shareholder provides services and virtual talks to several non-US companies in Europe. Do I prepare several schedule K2/K3 to report income and deductions by country or can it be lumped into one K2/K3? Lacerte is asking for Foreign country and the income is from different non-US companies (UK, Paris, Berlin). Guidance is appreciated.

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