@Mike9241
Thanks again for responding.
"since there is no FTC reported on the K-3 and if there is no net foreign source income at the partner level there will be no effect on the allowed FTC from other sources so in MY OPINION your wasting your time entering the k-3 info"
Before we even get to the K-1 & K-3 from that AB investment, the partner that has 98% interest of my Partnership does receive $48 (received as foreign dividends) from that Swiss company I mentioned earlier. These $48 are present on the Partner's K-1, at #21, "foreign taxes paid or accrued".
Perhaps I don't understand something. My thoughts are: because these $48 -- clearly a foreign source of income, the K-3 that was received from another investment will have to be somehow entered and should not be ignored.
Wouldn't this, in your opinion, be the "net foreign source income at the partner level" ?
