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StockDog
New Member

How do I get TT to accept my K-1 box 16 drop down list choice?

I have enter all of the amounts on my K-1 for box 16 and chosen the correct code H but TT flags it red as an error.

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3 Replies
PatriciaV
Employee Tax Expert

How do I get TT to accept my K-1 box 16 drop down list choice?

If you have multiple countries listed as Foreign Transactions from Schedule K-1 Box 16, you will see an error with instructions to "use separate worksheets" (see screenshot below from Forms Mode - click to enlarge). 

You will need to add another K-1 for each country with foreign transactions. The basic K-1 information is the same, but enter only the information for one country on each K-1. Unfortunately, there is no option to copy an existing K-1 to a new form.

Add another K-1 in TurboTax for desktop as follows:

  1. Use the Find box in the TurboTax header to search on "k-1." Click the jump-to link to go to the start of the section. Click Yes.
  2. Choose the type of K-1 you need to work on by clicking Update.
  3. Click Add another K-1 at the bottom of the list.
  4. Follow the prompts to enter basic info from Schedule K-1 and amounts for one country from Box 16.
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earlyride5372
Returning Member

How do I get TT to accept my K-1 box 16 drop down list choice?

When I enter an amount in Code B of Box 16, it does give me an error prompt, but it does not ask me for the form 1116 where this amount would be entered.

mkumarz
Returning Member

How do I get TT to accept my K-1 box 16 drop down list choice?

But the K-1 does not specify countries -- just says Various.  How does one proceed then?

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