I have a Schedule K-1 (Form 1065) from a partnership in a foreign country (Bermuda). But TurboTax won't let me enter in a country and requires a ZIP Code. What now?

[Reliquary]

The screen that says "Enter Partnership Name and Address" assumes that the address is in the US, and it will only let me enter states and requires a ZIP Code.  What should I do?

[IreneS · Accepted solution]

You may use your own address for data entry on Schedule K-1, if the partnership has a foreign address.

The most important items on the K-1 are the EIN and name of the business. The K-1 general information is not filed with your tax return; and the values from the K-1 flow to Schedule E and other respective forms. 

It is not a problem to enter another address. 

[BB31]

What if the foreign partnership does not have an EIN? The "K-1 Equivalent" says "There is no Partnership employer identification number for this partnership as it is a foreign partnership based offshore in the
British Virgin Islands."

This is an investment in a start-up through a crowdfunding venture capital site.

So far, I have only realized expenses and I would like to report the deductions.

[DaveF1006]

You will not be able to complete a K1 without an EIN. Instead you will need to fill out form 8865, which A US person who is a partner in a foreign partnership (or an entity electing to be taxed as a partnership) is required to file Form 8865 to report the income and financial position of the partnership and to report certain transactions between the partner and the partnership. Unfortunately, Turbo Tax does not support 8865.

This form will allow you to take deductions from your income. Here is a link to download and prepare form 8865. Once that is complete, you will mail that to the IRS.