Thanks PatriciaV. I think TurboTax only partially created the K-3 electronically for only foreign derived income, not for all incomes. In my case, as a passive investor in a partnership, I have only received US based income and zero foreign income. K-3 is for all income, including US source income.
Here are some issues:
TurboTax interview asked Foreign Country or US Possession, what do I select? Do I select "not applicable" since US is not among the choice? Alternatively TurboTax in K-3 should have two entries for Box16 - if Box 16 in K-1 is checked with foreign income, OR if Box 16 in K-1 is checked with only US income; if you select the former, you continue to fill out the K-3 in TurboTax, and if you select the latter, you stop. That would be a fix to the bug.
When prompted to Enter gross income information, there is no Column A box for US income, but there is a Column G total for "Foreign Gross Income - Gross Income from all sources", should I enter US total in this column or leave it blank?
If I cannot enter US or any US source income in TurboTax version of K-3, then what do I do?
Another fix for the TurboTax bug is to add US as a choice in country selection and also add Box (a) for US income source in each column. This will be consistent with the IRS form K-3. Thus I think that it is a bug in TurboTax software.
If you have other creative fix, please advice and think many will benefit from the expert guidance. Appreciate very much.
