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brothershomimpro
New Member

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

 
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tagteam
Level 15

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

You can enter your first K-1 as usual, but without any figure for Boxes G and N on Line 16.

 

Subsequently, you can add a second K-1 that includes only Boxes G and N om Line 16.

View solution in original post

7 Replies
tagteam
Level 15

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

You can enter your first K-1 as usual, but without any figure for Boxes G and N on Line 16.

 

Subsequently, you can add a second K-1 that includes only Boxes G and N om Line 16.

View solution in original post

pointhope82
Returning Member

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

Can you tell me or us, a step by step on how to open and enter a separate k1 work sheet for box 16, I have tried all kines of  ways, and each time I get to submitting the tax return it said you  need a second work sheet.  after 2 weak of this, I deleted my NGL Energy Partners LP K-1 from Turbo Tax, and submitted my tax info to the IRS on time.   Now I am doing an Amend  Tax form.   My Box 16: A- CANADA,  B- 35,978, C- 0, E*- 0,  G- 179, I- 216,  *- STMT,  (2019 Schedule K-1 Supp), 16E1- 0,  16J1- 4,  16M1- 0,  16M2- 0,  16N1- 166, 16p1- 2     A side note the k-1 is suppose to be loadable to Turbo tax but it will not.  I am going to install 2018 and see if it works on that one.   Thank you

 

djteoli
New Member

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

Ok, Please confirm what you have said so I can understand and try this as I have this issue now and have taken TurboTax online help, yet they did not resolve this.  My only recourse  so far is to print and file by mail but I would like to efile as all of us do.  I have actually printed my entire return + worksheets and it looks to me that "Additional information" pages are generated for these (more than 5 row entry) box 16, box 20 cases.  However, I don't see any form 1116 generated in my tax return.  Box 16, codes K, L, M, N, and O; Deductions allocated and apportioned at partnership or S corporation level to foreign source income. Include these amounts on line 2 of each of the applicable Forms 1116 (that is, those Forms 1116 for each category of income you received).

I don't see any form 1116 generated in my tax return should there be?

tagteam
Level 15

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

sankar97
Returning Member

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

I have the same issues. Don't know whee to get help with this. This is the first year I'm using Turbo Tax (Last year I used HR Block and I didn't have any issues)

dwhall20
New Member

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

Did you get a resolution on this?  I'm facing the same problem on my 2020 returns for my K-L with NGL Energy Partners, LP.  My box 16 has all the same fields you mentioned and I'm getting the same error.

DaveF1006
Employee Tax Expert

Form 1065 Schedule K-1, Box 16 requires separate K-1 worksheets for boxes G, F, M, and N. TurboTax will not submit tax return until this is done. How do I do this?

You will need to report 4 K1 forms.. 

  1. Log into or open Turbo Tax
  2. Go to federal>income and expenses>S-corps, Partnerships, and Trusts>sow more
  3. Schedule K-1>start

If in Turbo Tax Software

  1. Open Turbo Tax
  2. Go to Federal Taxes>Wages and Income>choose what you work on
  3. Business Items>Schedules K-1

Report the first K1 in the partnership's name and record all the information listed in all boxes. For Box 16, use the G code only along with the information it may require. 

 

For the next three individual  K1's, report in the partnership's name and leave the rest of the boxes blank except for Box 16.  You will then prepare a separate K1 with Code F in box 16, another one with Code M, and then the last K1 with code N. This will generate the 4 separate worksheets that Turbo Tax requires.

 

 

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