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Deductions & credits
Yes. This makes sense. You entered a final expense in Line 11A on your K-1 and this flows to Line 3B on your Form 1116. Now the program is asking for an explanation. i think this is what you issue is.
Since you are working in Turbo Tax Basic, go to your forms mode. Locate the Form 1116 worksheet that should be underneath Form 1116. Now go to Part 1, Line 3(B)(2) and type in Final K-1 Expense in the manner as shown on this screenshot. This should clear the error.
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March 19, 2025
1:37 PM