My K1 has interest expense on 16I but I'm getting an error in TT because there is no income allocated at the partner level.
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

My K1 has interest expense on 16I but I'm getting an error in TT because there is no income allocated at the partner level.

Can I use the gross income from all sources on 16B on the worksheet to get around this error? Or should I delete the interest expense on 16I?  Or is there another solution to this? 

3 Replies
Level 8

My K1 has interest expense on 16I but I'm getting an error in TT because there is no income allocated at the partner level.

If there is no 16C, then use 16B.

New Member

My K1 has interest expense on 16I but I'm getting an error in TT because there is no income allocated at the partner level.

I'm getting this error too. I have nothing in 16B *or* 16C, but the amount reported for 16I matches the amount in 13H. Should I just not report the 16I amount since it's already listed in 13H?
Level 8

My K1 has interest expense on 16I but I'm getting an error in TT because there is no income allocated at the partner level.

I don't know if they are related. I suggest that if you have no foreign tax paid; code P, then elect not to fill out f1116. There are numerous postings on the technique.
Dynamic Ads
v
Privacy Settings