Investors & landlords

I can only tell you what  I did to get thru and file my taxes.

 

My 'K-3 Information' from the PTP  had only 2 countries, but the K-3 Wks in TT provided only 1 selection, so I entered one country along with as much of the data as I could (including section 1.59a data).  Then I looked for the forms that were created and found the K-1 Add'l Info Wks at Box 16 showed a link to a Form 1116 and some other worksheets.  (Note, also, there is a Quick-Link button but I did not try it.).  On the Foreign Tax Wks I found I could enter data for up to three countries.  You will probably have to create 3 more copies of Form 1116 to cover the 12 countries you have--either that Quick-Link button or some other way to add a new form.

 

Finally, by K-3 Information included section 1.59a data, which is marked with an asterisk on the K-3 Wks in TT.  The K-3 instructions from IRS.gov indicated this flows to Form 8991.  But when I downloaded that form & instructions from IRS and started trying to enter the numbers, I found that Line 1g says that if your 4-year average receipts are less  that $500,000 stop and don't complete the rest of the form.  That  left me out so I ignored that data.

 

When I completed my e-filing (despite a state program bug that I reported last year that is still not fixed), I noted that no K-3 form was generated by TT, if you have other K-3 data besides foreign taxes (Form 1116) and section 1.59a data (Form 8991), you may have other problems.