You can access and enter Schedule K-3 using Forms mode in TurboTax for desktop. This will allow you to enter the additional information from the K-3 you received.
- Open your return and click on the Forms icon in the TurboTax header.
- Look for K-1 Partner for the related Schedule K-1 in the left column.
- Click the form name to open it in the large window.
- Scroll down below Box 16 for the Schedule K-3 Worksheet.
- Enter the information from the Schedule K-3 you received on the appropriate lines of the worksheet.
Note those with asterisks do not flow to other tax forms; you'll need to enter this information manually in what form is appropriate. Also note the QuickZoom link for Foreign Tax information.
Click here for Partner's Instructions for Schedule K-3's 2022.
Per this IRS guidance: New exception to completing Schedule K-3.
Under a new exception, in certain cases, partnerships with no or limited foreign activity are not required to furnish Schedule K-3 to you for tax years beginning in 2022. See Domestic Filing Exception in the Partnership Instructions for Schedules K-2 and K-3 (Form 1065).
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