topic How do I enter Schedule K-3 Part X? in Get your taxes done using TurboTax

How do I enter Schedule K-3 Part X?

bidab — Mon, 10 Apr 2023 23:17:20 GMT

I received a Form 1065 K-1 with an attached K-3. The K-3 contains only Part X. The TurboTax questionnaire only contained input prompts for Part I, II and III. What do I do?

Re: How do I enter Schedule K-3 Part X?

PatriciaV — Tue, 11 Apr 2023 14:41:42 GMT

Schedule K-3 Part X reports income and deductions for Foreign Partners. This would not apply to a US resident filing Form 1040, which is why TurboTax doesn't ask for this information.

Re: How do I enter Schedule K-3 Part X?

bidab — Tue, 18 Apr 2023 06:42:30 GMT

Unfortunately, TurboTax won't allow me to proceed with e-file if Box 16 is checked and no K-3 information is entered. Strangely, the included Part X of this K-3 only includes values in the (a) Total and (c) U.S. source columns. The partnership is US based and I am a US citizen. If there is no foreign source, can I just uncheck box 16 and disregard the K-3?

Re: How do I enter Schedule K-3 Part X?

LindaS5247 — Tue, 18 Apr 2023 17:20:41 GMT

If you have no other foreign income or foreign tax credits to report on your return you do not have to include the K-3. Keep it with your tax records.