It would be beneficial to have a global setting option under "User Options>Tax Return" for partnerships and S corporations for the following items:
1. Qualified for exception to filing Schedule K-2.... "Yes" or "No" options.
2. Include partner/shareholder notification on Schedule K-1 (partner/shareholder will not receive Schedule K-3 unless requested).... "Yes" or "No" options.
A global setting option for these items is helpful for users where most of their partnerships and S corporation clients qualify for this filing exception and will be including the notification on the Schedule K-1s.
Note:
[input for these options by client is on screens 78.1 for partnerships and 86.1 for S corporations]
It would be very helpful to have the K-2 K-3 notification to the partner or shareholder print with the K-1. The program could actually have features that detect whether or not the domestic exception has been met (i.e. $300 or more of foreign tax paid, various types of foreign income, etc.). I use the desktop version of ProSeries. Thank you!
It's astounding to me that this is not a feature on Proseries as it is in ProConnect. Maybe, if we paid Intuit more we would get a basic feature common to all 2022 professional tax software?
