Form K-3

BigJon — Wed, 11 Feb 2026 10:31:21 GMT

Why does TurboTax Form K-3 input not match real K-3's that we receive from MLP's?

Re: Form K-3

Mike9241 — Wed, 18 Sep 2024 19:29:52 GMT

Turbotax only provides for a limited portion of the K-3. those that need to answer parts that it doesn't cover are probably already using a pro to prepare their taxes. Thus, it probably sees no financial incentive to expand what it covers

here are Tutbotax K-3 instructions

Schedule K-3 - Foreign Transactions Smart Worksheet

Line A: Name of country or U.S. territory - Enter from Schedule K-3, Part 2, Section 1, Line 24, description column(a,b,c)

Line B: Gross income from all sources - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column G

Line C: Gross income sourced at individual level - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column F

Line E: Foreign gross income - Foreign branch category - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column B

Line F: Foreign gross income - Passive category - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column C

Line G: Foreign gross income - General category - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column D

Line H: Foreign gross income - Other - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column E

Line I: Deductions allocated at individual level - Interest expense - Enter from Schedule K-3, Part 2, Section 1, sum of Lines 39-43, Column F

Line J: Deductions allocated at individual level - Other - Enter from Schedule K-3, Part 2, Section 2, Line 54 minus the sum of lines 39-43, Column F

Line L: Deductions allocated - Foreign branch category - Enter from Schedule K-3, Part 2, Section 2, Line 54, Column B

Line M: Deductions allocated - Passive category - Enter from Schedule K-3, Part 2, Section 2, Line 54, Column C

Line N: Deductions allocated - General category - Enter from Schedule K-3, Part 2, Section 2, Line 54, Column D

Line O: Deductions allocated - Other - Enter from Schedule K-3, Part 2, Section 2, Line 54, Column E

Line P: Total foreign taxes paid - Enter from Schedule K-3, Part 3, Section 4, Line 1, on Page 8 or 9 depending on income category, if "Paid" is checked

Line Q: Total foreign taxes accrued - Enter from Schedule K-3, Part 3, Section 4, Line 1, on Page 8 or 9 depending on income category if "Accrued" is checked

Line R: Reduction in taxes available for credit - Enter from Schedule K-3, Part 3, Section 4, Line 1, on Page 8 or 9 depending on income category if "Accrued" is checked

The following lines are not provided in the program. Enter on appropriate tax form.

Line S: Foreign trading gross receipts
Line T: Extraterritorial income exclusion
Line W: Section 965 information
Line X: Other foreign transactions
Line AA: Gross receipts per Regs 1.59A-7(e)(2). Current year.
Line AB: Gross receipts per Regs 1.59A-7(e)(2). First preceding year.
Line AC: Gross receipts per Regs 1.59A-7(e)(2). Second preceding year.
Line AD: Gross receipts per Regs 1.59A-7(e)(2). Third preceding year.
Line AE: Base erosion tax benefits from base erosion tax payments per Regs 1.59A-7(d)
Line AF: Amounts included in the denominator of the base erosion percentage per Regs 1.59A-2(e)(3)(i)
Line AG: Section 951A (GILTI) information. See instructions for Form 8992.
Line AH: Foreign derived intangible income (FDII) information
Line AI: Section 864(c)(8) fo

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Form K-3

Re: Form K-3