topic I'm having same problem in Deductions & credits

Form K-1 Review says need to "use separate K-1 Worksheets to report more than one type of foreign gross income". Does this mean making out a new Schedule K-1 ?

RAZR — Thu, 06 Jun 2019 05:31:51 GMT

Have entries in Part 111, Box 16, Codes A, B, C, D, E, G and I. Review says because I have entries in codes D (Foreign Passive category) and E (Foreign General category) I have to use separate K-1 Worksheets, but it doesn't say where to go to get them, or if I have to start over and separate Box 16 into two separate Form K-1's.

The 1st K-1 will have all the entries + box 16 for either...

rogge1722 — Thu, 06 Jun 2019 05:31:52 GMT

The 1st K-1 will have all the entries + box 16 for either general or passive. The 2nd K-1 will only have entries in box 16 for the other category.

Your first entry for the partnership will include Part I,...

rlottsman — Thu, 06 Jun 2019 05:31:54 GMT

Your first entry for the partnership will include Part I, II and III information. When you get to Box16 information drop-down screen only put in Box16 A (Various), B(Gross income all sources) and D(Passive Category).  Box16C & 16G are at PARTNER level.  If you are NOT a partner, don't enter these.  For now, leave out E but continue with 16I(Passive Category).  Finish out this first K-1 with information in Boxes 18, etc..
For Box16E, go back to the 1065 entry screen and ask to fill out another K-1.  Enter Part I info. to include the partnership name and address.  DO NOT ENTER PART II INFO. Continue to where you check the boxes and ONLY check Box16.  Continue to Box16 drop-down screen and ONLY enter category E(Foreign Gross Income, General Category) with your information.  From there, press the "continue" key until you get all the way out of this K-1.  You're done!
NOTE:  When I put the name of the partnership in for the second go-round I use the partnership name and add the Box info. (Example: REGENCY PARTNERS LP (Box 16E).  When I look back at the K-1's entered, I know I have all of them.  I hope this helps you.

Thanks, this explains the above in complete detail

RAZR — Thu, 06 Jun 2019 05:31:55 GMT

Thanks, this explains the above in complete detail

Does anyone know why this is a problem this year when I f...

sops64 — Thu, 06 Jun 2019 05:31:57 GMT

Does anyone know why this is a problem this year when I filed a K1 from the same LP last year with no problems? Who changed, Turbo or Federal gov't.

I'm having same problem

BROWNBUBBA — Thu, 06 Jun 2019 05:31:58 GMT

I'm having same problem

For the second worksheet, do you enter the amounts in Box...

donnalynngibbons — Thu, 06 Jun 2019 05:32:00 GMT

For the second worksheet, do you enter the amounts in Box 1,2 or 3 again

There is an answer in the Q&A for Turbo, it says to make...

sops64 — Thu, 06 Jun 2019 05:32:01 GMT

There is an answer in the Q&A for Turbo, it says to make a second K1 and only put in box 1 or 2, whichever you didn't put in the first one. Leave all else blank.

This problem caused a real and unnecessary headache! I've...

pcmurph — Thu, 06 Jun 2019 05:32:02 GMT

This problem caused a real and unnecessary headache! I've also had no problems in past years. There is no reason for the user to have to make multiple entries of the same information. I expect a lot more from this software and will have to reconsider my purchase next year.

Thanks to rlottsman. I followed that suggestion and it wo...

ricklab — Thu, 06 Jun 2019 05:32:04 GMT

Thanks to rlottsman. I followed that suggestion and it worked well. However, I did 3 K1's, one using only 16 B, a 2nd using E and J, and a 3rd using D and I. I agree- why can't Turbotax figure this out and guide us through it???!!

I still get not get this to work. when I take out e, it...

mghahn58 — Thu, 06 Jun 2019 05:32:04 GMT

I still get not get this to work. when I take out e, it tells me I need to add it back in or it cannot work...really frustrating. How can I get a call on this, I have now been at it 2 hours

ridiculous that the algorithm finds fault, but the softwa...

bvowinkel — Thu, 06 Jun 2019 05:32:06 GMT

ridiculous that the algorithm finds fault, but the software will not guide user to fix, I've wasted hours trying every solution offered on this thread, and nothing works, Turbo Tax refuses to file, will not allow flagged sub line on K-1 to be filed.

I followed rlottsman's recommendation to the letter and i...

jvilbert — Thu, 06 Jun 2019 05:32:07 GMT

I followed rlottsman's recommendation to the letter and it worked perfectly. Thank you! (This kind of tax complexity is just insane!!!)

I have the same problem as mghahn58. Can't find a fix....

mutsu19 — Thu, 06 Jun 2019 05:32:09 GMT

I have the same problem as mghahn58. Can't find a fix. My K-1 must have something on it that is different from what riottsman was working with. I agree, why can't TT guide us to the necessary actions?

TurboTax fix the K1 box 16 issue? This is why I pay mor...

Tools1 — Thu, 06 Jun 2019 05:32:10 GMT

TurboTax fix the K1 box 16 issue? This is why I pay more money to buy premier edition. I have been using program for 10 years. The best answer I could find was from rogge1722 from 3 years ago.

I agree with everyone's frustration. This has been an is...

rturnage — Thu, 06 Jun 2019 05:32:12 GMT

I agree with everyone's frustration. This has been an issue every year. My only solution was to ignore the faults, print out a hard copy and mail my taxes. Fortunately, this is a minor investment and has never caused any inquiries from the Feds. My final solution was to call my broker and sell the investment.

2018 update: This is a good way to handle this problem,...

rbeck777 — Thu, 06 Jun 2019 05:32:13 GMT

2018 update: This is a good way to handle this problem, but the drop down codes (which classify the income) for 2018 have changed (thanks IRS/TT for continuing to screw with us). When creating the 2nd K-1 with only box 16 entries, move the code D, F, and G amounts to this second K-1. If your F and G have zeros on the company K-1, don't enter anything. If you enter code F or G, TT will choke on them, even though the dollar amount is zero. I ended up with a second K-1 with just a box 16D entry.

I did what rbeck777 did, and he or she is right! it work...

peterfng — Thu, 06 Jun 2019 05:32:15 GMT

I did what rbeck777 did, and he or she is right! it worked. No thanks to Turbo Tax.

Great input. I also found with The Blackstone Group and B...

rlottsman — Thu, 06 Jun 2019 05:32:17 GMT

Great input. I also found with The Blackstone Group and Buckeye Partners, if you have information in 16F and 16M, they need to be on the same K-1. If they are not together, TT will consider it an error and not let you file. I had to go back after making separate K-1's for each one to combine them. Also learned the hard way that you don't enter anything with a 0 (zero). Otherwise TT wants more and you don't have it.

Partial success, but now have one remaining error "Sch K-...

rturnage — Thu, 06 Jun 2019 05:32:20 GMT

Partial success, but now have one remaining error "Sch K-1 Partnership Add. Info 1: Fgn Tax Code J Ln # col 3 are listed but no foreign source income at individual level has been listed on the K-1 Additional info worksheet Line 1." Have tried everything and cannot get this to clear. Anyone ever seen this before?