Schedule K-3 Part 2, Section 2, Allocable rental expensesand Total Deductions

[Tulane]

Hi,

I am using TT Premier on desktop. I need help finding where in TT to enter values from Sched K-3, Part 2, Section 2 for U.S. source (columns a, g):

1. Line #33: Allocable rental expenses - depreciation, depletion, and amortization
2. Line #34: Allocable rental expenses - other than depreciation, depletion, and amortization
3. Line #54: Total deductions (combine lines 25 through 53)
4. Line #55: Net income (loss) (subtract line 54 from line 24)

Thank you,

Tulane

[PatriciaV]

Schedule K-3 reports foreign activity for the purposes of the Foreign Tax Credit. For this reason, there are no entry points for US income in TurboTax. However, you may need to refer to this information to complete Form 1116 or Form 1118. See the IRS Instructions for Schedule K-3 for further assistance.