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New Member
posted Jun 6, 2019 4:18:02 AM

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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1 Best answer
Level 9
Jun 6, 2019 4:18:03 AM

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.




3 Replies
Level 9
Jun 6, 2019 4:18:03 AM

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.




New Member
Jun 6, 2019 4:18:05 AM

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

New Member
Jun 6, 2019 4:18:06 AM

How do you enter it?  On the form itself?