K-1 / K-3 I have 3 LPs with box 16 checked

[KSRaptor1]

K-1 / K-3.  I have 3 LPs with box 16 checked. They all state that the K-3s will not be available until late in 2023. Do I file now and ignore them? Or ??

[PatriciaV]

It depends. If you believe Schedule K-3 will report sufficient income to affect your taxable income for the year, you may choose to request an extension of time to file. But if you believe the information from Schedule 3 won't apply to you or won't significantly change your taxable income, you may choose to file your return now and amend your return if necessary when the forms arrive.

In most cases, the foreign income reported on Schedule K-3 is either already reported on Schedule K-1 or only applies to partners with other foreign income and/or assets.

If you chose to file now, uncheck Box 16 from Schedule K-1 to clear any federal review issues in TurboTax.