Yes, I would agree. This needs to be addressed. They are using this info to populate several different forms and can't handle multiple types of Foreign income.

achavez911

Level 2

Ditto! You should fix your error and not look to the community of users to resolve.

BilljohnAuthor

Level 2

To get rid of the error, you have to file two K-1 for the same partnership. The second K-1 is necessary to separate the Foreign Gross incomes, Passive and General. So, file the first K-1 with all of the other entries on line 16 and only one of Foreign Gross entries. File the next K-1 with only line 16 and only the other Foreign Gross entry. This worked for me.

rdpfalcon

Level 2

Bottom Line TTX can't handle multiple entries on 16 in certain categories. I had to move E=Foreign Gross General and J Deductions General to a separate K1 away from D Foreign Gross income - Passive category

mirassou

Level 4

I believe that 16B is gross income from all sources. The program is trying to transfer appropriate income to each foreign country, in order to populate 1116 for foreign tax credit. If 16B includes income from multiple countries, I suggest entering a K-1 for each country. Hope this helps.

Rs6er

Level 2

How do you know how many countries if the K1 doesn't tell you?

R-P

Level 2

After 30 minutes of phone time with a TTX tax expert, 15 years CPA he said, we finally solved the issued. The solution that removed the error was to create a K-1 for each line of line 16 that had an amount in it. Selected "various" in 16A for each K-1.

garytries

Level 2

Hi. I don't know if this will help anyone else but I was having the same problem withe 16B. Just FYI and for search, it was IEP (Icann Enterprises). I had non-zero values for B, C, F, I, and J and I was determined not to fill out K-1's for each box. That was crazy. I had originally imported the K-1 via TXF file and in the end the fix for me was to delete all of the lines that had 0 values. The import crated a lot of 0 values and apparently TT isn't smart enough to understand that "0" is the same as "not important" and deleting them fixed the problem.

This problem was posted in 2019 and it's now 2021. 😞