Solved: On K1 1065, how to distinguish between U.S. Source and Foreign Income (Box 16 - Gross Income, Interest Expense, Other Expenses)?
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New Member

On K1 1065, how to distinguish between U.S. Source and Foreign Income (Box 16 - Gross Income, Interest Expense, Other Expenses)?

Prompt states:  Enter the following detail about the foreign income reported on your K-1 for XXX & Co. L.P.  I can't figure out how to distinguish.  Since box 16 is foreign, wouldn't it all be?
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Level 8

On K1 1065, how to distinguish between U.S. Source and Foreign Income (Box 16 - Gross Income, Interest Expense, Other Expenses)?

For 16 G and H, TT states the following:


The source (U.S. versus foreign) of some deductions is determined based on the residency of the partner. The program will assume that the partner is a U.S. citizen or resident and enter the entire amount for codes G and H in the U.S. Source column. If this program assumption is not correct, enter the correct amounts in the U.S. Source and Foreign Source columns.




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3 Replies
Level 8

On K1 1065, how to distinguish between U.S. Source and Foreign Income (Box 16 - Gross Income, Interest Expense, Other Expenses)?

For 16 G and H, TT states the following:


The source (U.S. versus foreign) of some deductions is determined based on the residency of the partner. The program will assume that the partner is a U.S. citizen or resident and enter the entire amount for codes G and H in the U.S. Source column. If this program assumption is not correct, enter the correct amounts in the U.S. Source and Foreign Source columns.




View solution in original post

New Member

On K1 1065, how to distinguish between U.S. Source and Foreign Income (Box 16 - Gross Income, Interest Expense, Other Expenses)?

This doesn't answer the question.  The original question was regarding the income, not the deductions.
New Member

On K1 1065, how to distinguish between U.S. Source and Foreign Income (Box 16 - Gross Income, Interest Expense, Other Expenses)?

How do you enter it?  On the form itself?
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