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Question

Why is Schedule B-2 incorrectly reporting partners as type F – eligible foreign entity?

Answer

The only partner types eligible to be reported on Schedule B-2 are I - individual, C - corporation, S - S corporation, E - estate of a deceased partner, and F – eligible foreign entity (if the entity would be treated as a corporation if it were a domestic entity). Partner types other than Individual, Corporation, S Corporation, and Estate will default to Eligible Foreign Entity.

If the partner should not be reported as type F, either the partnership does not qualify to elect out of the centralized partnership audit regime, or you should change the partner type in Partner Data Entry to the desired entity type.

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