PatriciaV
Expert Alumni

Get your taxes done using TurboTax

Yes, each partner should receive one Schedule K-1 and one Schedule K-3. The K-3 information received from the partnership investments should be combined on the partner K-3.

 

What type of error do you see when you complete the K-3 entries? Have you looked at these forms in Forms Mode? It's possible you manually entered an override, which will cause a form error.

 

After you click the Forms icon in the TurboTax header, review the list of forms on the left. Any forms with red exclamation marks have errors. Click the Errors icon at the top of the forms list to open a box under the open form that displays the error(s) for that form. Entries that need to be corrected appear in a red font or a red box. Make entries only in yellow boxes or where the font is blue or green.

 

See also: What's the meaning of all the different colors in Forms Mode?

 

For US-sourced income reported on Schedule K-3, you can choose "Various" from the country drop-down.

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