Good Day. My questions apply to my 2021 tax returns.
I’ve recently received the K-3 that supplements my K-1 for a MLP I’ve invested in. I have extensions for my returns in place and have filled completed my Federal and state returns ~ well almost ~ answering all the questions asked about the K-1 and since Box-16 was checked, I answered all the questions TurboTax asked me. I go thru the review the following error keeps appearing:
Sch K-1 Wks-Partnership (SUN) -- Sch K-1 Additional Info 1: Foreign interest expense allocated at the partnership level is listed but no foreign source of income at the individual level has been listed on the Additional Information worksheet Line 1. A careful review of the K-3 shows no sources in income of taxes however TurboTax won’t let me proceed till I answer it.
Also since my K-1 has fields Box 1 and Box 2 of Part III filled in, TurboTax is asking for the City and State of the real estate. I addressed the info on Box 1 as one K-1 and Box 2 as a separate K-1. This method was successful on my 2020 return and these questions did not appear. I don’t know how to address this question.
Any assistance would be greatly appreciated.
