If your K-1 does not report foreign activities for Schedule K-3, you can uncheck the box (14 on 1120S, 16 for 1065) and e-file now.
However, if your K-1 does report foreign activities, you are required to include Schedule K-3. You have the option to uncheck the box, e-file now, and amend your return later. Or you can file an extension and check back later in the year to see if Schedule K-3 is available.
Please note that the issuance of a K2/K3 is not a Turbo Tax issue, it is an IRS issue.
What is K-3 on the tax return?
Schedule K-3 reports items of international tax relevance from the operation of a partnership. You must include this information on your tax or information returns, if applicable. See separate parts for specific instructions. You only need to use the schedules that are applicable to you.
IRS Instructions for Form K-3
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