419345
After entering the info on my NGL Energy Partners K-1, I am getting three error when doing the TT review. All errors are on line 16 entries. I am at a loss to understand the errors given the data.
I have attached screen shots of the errors and copies of the NGL K-1.
Thanks.
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Since there no foreign taxes paid, there is no need to fill out a form 1116. I suggest you dispense with all foreign transactions. If you choose to do this, then in Forms Mode, in the left pane, click on the k-1 partner to bring it up on the right pane. Scroll down to 17 and just above it there is a quickzoom to add additional foreign tax info. Click on it and it will bring up the additional info wks. Scroll down to "Box 16: foreign transactions." Then under "Code P, Q, etc ", locate line 3a. It states "do you elect to forego completion of f1116." Check mark the Yes box. That will clear all errors and will dispense with foreign transactions..
Since there no foreign taxes paid, there is no need to fill out a form 1116. I suggest you dispense with all foreign transactions. If you choose to do this, then in Forms Mode, in the left pane, click on the k-1 partner to bring it up on the right pane. Scroll down to 17 and just above it there is a quickzoom to add additional foreign tax info. Click on it and it will bring up the additional info wks. Scroll down to "Box 16: foreign transactions." Then under "Code P, Q, etc ", locate line 3a. It states "do you elect to forego completion of f1116." Check mark the Yes box. That will clear all errors and will dispense with foreign transactions..
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