I'm using TurboTax Premier for tax year 2021 (download version)
I have a K-1 (1120S) with Part III box 14 checked.
TurboTax says 'Enter info from your Schedule K-3'
Foreign Country or U.S. possession
I entered (not applicable), then clicked 'Continue'
TurboTax says 'Enter Gross income information'
It has boxes for:
Foreign branch category (Column B)
Foreign Gross income - Passive category (Column C)
Foreign Gross income - General category (Column D)
Foreign Gross income - Other category (Column E)
Foreign Gross income - Gross income sourced at partner level (Column F)
Foreign Gross income - Gross income from all other sources (Column G)
But, it does not have a box for U.S. source (column A)
1st page on my K-3
E Check to indicate the parts of Schedule K-3 that apply.
The only box that is checked is 2
1 and 3-7 are not checked
My K-3 only has values in 1A (Sales US) column A (U.S. source) and column G (Total).
There are no values entered in Columns B, C, D, E and F.
My K-3 has no values entered in Rows 2-23
My K-3 only has values in 24A (Total gross income) column A (U.S. source) and column G (Total)
My K-3 only has values in 25 (Expense allocable to sales income) column A (U.S. source) and column G (Total)
There are no values entered in Columns B, C, D, E, and F
My K-3 has no values entered in Rows 26-53
My K-3 only has values in 54 (Total Deductions) column A (U.S. source) and column G (Total)
There are no values entered in Columns B, C, D, E, and F
My K-3 only has values in 55 (Net income loss) column A (U.S. source) and column G (Total)
There are no values entered in Columns B, C, D, E, and F
Why does TurboTax not ask for the U.S. source income?
Is TurboTax not able to deal with this situation (only income from U.S. source)?
Was my K-3 filled out incorrectly by the company that sent it to me?
Was Box 14 on K-1 checked by mistake?
Regards,
John
