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EXPLAIN when we would fill out 3b in the image? also what is schedule EO? why do entities that receive k1s need to fill EO
EXPLAIN when we would fill out 3b in the image? also what is schedule EO? why do entities that receive k1s need to fill EO AND this 3b?
3 At the end of the tax year, did the partnership: a Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation? For rules of constructive ownership, see instructions. b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust? For nules of constructive ownership, see instructions. If "Yes," complete (i) through (v) below Step by Step Solution
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