It seems all my K-1s in 2023 are including K-3s even if there is only US income. Turbotax Business still doesn't ask about Box 16 and if you check the box on the Forms view, it doesn't allow you to put any additional information.
Is there some way to activate this or does Turbotax Business just not support K-1's anymore? It seems like almost any investment is including K-3s now.
Also, I'm getting mixed data on this but it seems that for most K-3s if the income is all US or <$300 then you don't have to include the K-3 with the K-1 filing. Is that mostly accurate?
Also, none of these K-1s have any Box 21 filled out - does that generally mean the K-3 is ignorable?
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It most likely is but have you tried Forms Mode?
Thanks for the response @tagteam - when you mean "Yes" do you mean it's most likely ignorable?
Here's a screenshot of the Forms Mode, it lets you edit Box 16 but doesn't show the form underneath. I've seen screenshots of Turbotax Basic that seem to show a separate form underneath.
Just to clarify, this is the Turbotax Business for Windows version.
I'm going to page Champ @Rick19744 who is more familiar with the form than I (it's relatively new).
Regardless, I think I initially misread your post and, no matter what, you would have to use Forms Mode for entry (with that box checked).
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