I have invested some money in an investment company, which in turn invests in other asset classes and issues K-1 form to partners. This is first year for me with them. Their activity is 100% domestic. They issued form K-1 and also K-3 for me. On part 2, section 1, line 24, they mention country as "US". When I try to enter K-3 in TurboTax, it asks me for country code, but the list does not contain "US" (I think because it is domestic only). When I asked investment company why they issued K-3 for domestic activity, they replied me as follows:
"THE PARTNERSHIP'S ACTIVITY IS 100% DOMESTIC. THE SCHEDULE K-3 INFORMATIONAL DISCLOSURE IS A NEW IRS REQUIREMENT FOR 2022. IF YOU HAVE NO FOREIGN ACTIVITY,
IT MAY NOT BE NECESSARY TO INCLUDE THIS INFORMATION AS PART OF YOUR PERSONAL TAX RETURN.
Any idea how shall I enter K-3 in TurboTax?
