Formerly, Form 1065 Schedules K and K-1 did not require any specific format to provide international information. As a result, many details needed for the accurate preparation of partners’ individual income tax returns were either lumped together on Schedule K-1, lines 16 and 20c, [...]

Schedule K-2 is a new 19-page form with 11 total parts. It is filed as part of your Form 1065, Partnership Tax Return. It is basically an expansion of Schedule K to provide greater detail on items of international tax relevance from the operation [...]