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TURBOTAX
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K3The K3 for NuStar is avaliable. The final instructions are not! Two important things. First is if the amount of foreign taxes paid is small decide if manually filing makes sense. Second is the IRS issued a hold harmless statement. You need to make a reasonable attempt to comply and complete the K3. The K3 is 20 pages! You lack instructions. Take a look, uncheck Box 16 and move on. I had $26 in foreign taxes from my MLPs. Not worth the hassle. A tax client of mine owns a partnership that mostly has assets in Canada with some $1000+ in tax. Told him to file and leave a couple hundred $$ applied to 2022 taxes. File an amended return when he gets a fillable form with instructions. |
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