Here are steps to enter a K-1:
In TurboTax online,
- Sign into your tax return, select Pick up where you left off
- To the right upper corner, in the search box, type in "k1" and Enter
- Select Jump to k1
- Follow prompts to enter info in different boxes
If you have also paid taxes on this foreign income to both US and foreign government, the IRS allows you to claim a foreign tax credit on your US tax return. To claim this foreign tax credit, you would need to file a Form 1116 Foreign Tax Credit. The amount would be shown on Schedule 3 line 1 and line 20 on Form 1040.
To enter info and file a Form 1116, follow here:
In TurboTax online,
- At the right upper corner, in the search box, type in "foreign tax credit" and Enter
- Select Jump to foreign tax credit
- Follow prompts
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