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Level 2

Question

When will Schedule K-3 be Released

Forum|Forum|4 years ago
February 17, 2022
13 replies
310 views

Good afternoon to whom this may concern,

I have a Form 1065 that I filled with my K-1 and box 16 is checked that shows I had a K-3. When will TurboTax Premier Online support filing the K-3 portion online?

TurboTax Premier Online

Show previous replies

Level 2

The publicly traded partnership will not issue K-3s until August. How can I e-file without this information

Level 2

My K-1 has box 16 checked... with only US sourced income reported on the K-3. Here's how I entered the info into Turbo Tax Premier Online and passed the review without any errors.

* Is box 16 checked on your K-1? [Yes]
* ...enter foreign country for which you are reporting foreign taxes paid or accrued. [(Not Applicable)]
* Enter gross income information. [my K-3 only has info in column A(US source) and G(total), but there is no entry block for A so only entered info for G. Since B-F are left empty it is implied that all of the total(G) is US Sourced.]

I hope this helps someone.

Level 2

I have multiple countries listed but TT only allows one country. "Various" is not an option. And even doing just one country, TT asks for information on certain Parts, Sections and lines of the Schedule that do not match what I received. It seems like TT is working with a different form from mine.

Level 2

TurboTax does not support form K-2 or K-3 in 2022 as far as I can research.

Level 15

Schedule K-2 and K-3 (1120S and 1065) are available in TurboTax Online, CD/Download, and Business versions for tax year 2022.

For a personal 1040 tax return, the entries for Schedule K-3 are triggered by checking the appropriate box during the Schedule K-1 interview.

In TurboTax Business, these schedules are created by reporting foreign partners, investments, income, or taxes.

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