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 Schedule K 1, Form N 20, Rev , Partner's Share    Hawaii Gov 2013

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all right for the third video we're going to take a look at the financial statements and how these individual items actually make their way onto the schedule k2s okay so schedule K2 we fill out one per 1065 so this is kind of the summary uh or an expansion of schedule K on the 1065 and then K3 is for each individual partner so each partner gets a K3 with their K1 package so schedule K2 in section c here what pretty straightforward right basically we're just checking yes or no so whether we needed to complete that part of K2 so K2 has these 12 different sections well the 12th one is reserved for future use so it's not but not used yet so I guess it's just 11. but if you use the part um check yes and then complete the part if not just check no right now part one uh the pieces that we have to use uh under this fat pattern the foreign tax translation and high tax income so the foreign tax translation this is happening because we have foreign tax credits that

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