Bring up the "additional info form" and scroll down to Box 16: foreign transactions. In the box with the 9 cells, there is an entry in Row 2 , Col 3. What TT wants is the income against which the interest expense was used and it is the amount in Box 16 B or C. Type the amount in Row 1, Col 3, making sure the amount is equal to or greater than the existing entry.
Bring up the "additional info form" and scroll down to Box 16: foreign transactions. In the box with the 9 cells, there is an entry in Row 2 , Col 3. What TT wants is the income against which the interest expense was used and it is the amount in Box 16 B or C. Type the amount in Row 1, Col 3, making sure the amount is equal to or greater than the existing entry.
Thanks, this makes a lot of sense. Unfortunately, I cannot get to the individual box with the 9 cells and edit it. I am using the online TT premier edition. Row 1 is empty for me because my K-1 reports 16B rather than 16C, and TT does not put 16B into row 1 in that box with the 9 cells. Is there a way that I can access the form directly rather than through Q&A?
I am not familiar with the on-line edition with regard to accessing forms.