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How to fill Schedule K-1 with ordinary income, rental income, and foreign transactions?
I have a Schedule K-1 with the following:
Part III, Box 1: ordinary business income (loss)
Part III, Box 3: other net rental income (loss)
Part III, Box 16: A, B, E, J
I followed advice and created 3 K-1s, one for each of the sections I described above. In the K-1 for Box 1, I included all other information.
TurboTax keeps complaining that "Sch K-1 Partnership Additional Info 1: Fgn Tax Code J Ln 3 col 3 are listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1."
It seems that it's not picking up Box E Code E, which is described as "General Category - Foreign gross income". Initially I tried just one K-1. Either way, the foreign gross income is not picked up, which is preventing me from e-filing.
What is the solution?