- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I don't have US-sourced foreign income. I only have US Income as do my partner's. Please refer to this item about country code which clearly states not to use Various or OC.
The revised instructions read as follows to add information on reporting countries on line 24:
Country code. Forms 1116 and 1118 require the taxpayer to report the foreign country or U.S. possession with respect to which the gross income is sourced. On lines 1 through 24, for each gross income item, enter on a separate line (A, B, or C) the two-letter code from the list at IRS.gov/countrycodes for the foreign country or U.S. possession within which the gross income is sourced. If a type of income is sourced from more than three countries, attach a statement with the information required on Schedule K-2, Part II, and Schedule K-3, Part II, for that type of income.
If income is U.S. source, enter “US.” Do not enter “various” or “OC” for the country code.
Really confusing so why doesn't Turbo Tax provide US as a drop down option for US income only K3.