First timer here, trying to understand the K-1 with box 16 checked. It seems that the IRS has given some direction on these but it isn't clear. I won't actually get my K-3 until August and I see some people say that we don't need to file them this year. My K-1 has nothing in boxes 1-5 and 21 is also blank. It only has:
6a: 11
6b: 10
9a: 40
19 A: 83
20 A: 11
AG: 51
Is the K-3 something that I need to worry about? If not, do I say that box 16 isn't checked or should I say that it is checked and then enter 0's in the K-3 survey?
Thanks,
Brent
