What to do when TT does not have Schedule K-3 avaialble?

[rickelizrusso]

IRS says Schedule K-3 not available yet but when I checked with IRS it is but TT does not have it?

[Mike9241]

the IRS is waiving the k-3 requirement for 2021 so uncheck the box on the k-1.   however, certain foreign tax info is only reported on the k-3 which most partnerships won't issue until at least August.  so if there is any FTC's, your choice is to file now and amend later or extend.

[rickelizrusso]

Thank you so much for your response to my question regarding when the K-3 would be available.  

In prior years box 16 H has always had the same amount reported in box 11 H.  Since the IRS has not issued the K-3 yet would it be correct if I took the amount on my K-1 in box 11 H and put that in box 16 H?   

[PatriciaV]

CHAMP Mike9241 is correct: Your choice is to uncheck Box 16, file now and amend later, or file an extension. It is not wise to change the amounts reported to you on Schedule K-1 because the IRS will compare your entries to the forms provided by partnership.

[rickelizrusso]

Thanks for your response.  I called TT and was told the IRS is releasing Schedule K-3 today and that 
TT will have it a few days later so I am waiting and hoping can file with this form.  If not I will still file and, as you say, file an amended return later.