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 ?

[jfricheyii]

I have four (4) K-1's with this problem; three from NGL limited partners in various accounts and one from Icahn Enterprise Partnership.  If it was just one K-1 from each entity, I could see this might work, but am concerned that this is about to become a real mess.  Very disappointed by TurboTax that it has this issue.

[bobruden]

I did as you said to do, but the k-1 do not combine

[digdesdev]

Every year there seems to be a different issue with K-1s.  As Buckeye Partners was mentioned previously, I thought I would post what worked for me this year on Buckeye and may help for other PTPs. 

As suggested, there are two K-1 entries.  First K-1 I titled "Buckeye Partners - General" and includes entries for all Parts and all information EXCEPT Box 16F and Box 16M (16M1 on the statement)

Second K-1 is titled "Buckeye Partners - Passive" and only has the Part I entries to identify it and the Box 16F and 16M information that was not entered in the first K-1.

My thanks to rbeck777 and rlottsman for their infomation that helped get me to this resolution.

[johns6]

This is the first time I have encountered this problem. A real pain, I finally printed and mailed. I wonder if the other tax software companies are having this conflict? May not buy TT next year.

[JWAmpsOnly]

So, if I have entries for both F and G, do I have to create new K-1s for each one or can I enter both in a single (2nd) K-1?

[JWAmpsOnly]

I agree with you.  If the Partnership can enter all the information on the same form, why can't TurboTax accept all the information on the same form?

I want a flat tax with no deductions/etc.: it would then take all of 5-15 minutes to fill it out and we could get rid of all the frustration.

[DavidS127]

Yes, if you have a Form 1065 Schedule K-1 with box 16 codes F and G, you'll need to enter a separate K-1 and report code F on one K-1 and code G on the other.  The partnership information (name, address, EIN, etc.) is the same for both K-1 forms you are entering.

For the boxes other than box 16 on each of the separate K-1, report only the amounts associated with the box 16 code being reported on that K-1 (i.e., passive income boxes on one K-1 and general income boxes on the other). The boxes reported on the separate K-1s should total to the same box amount on the single K-1 you actually received.

@JWAmpsOnly

[nidada]

What if line G doesn't exist in section 16?

Do i still need to enter another K-1 and enter G with "0"?

Thanks much.

[DaveF1006]

Make sure you are in the right K1 form.  If you are preparing a partnership K1, Code 16G is a valid selection. Make sure you are reporting this in this form and not a  S-Corp or Trust K1.

[iitm70]

I had wasted almost 24 hours trying Box 16E problem without success.  Thanks to you, I was able to resolve the issue in a few minutes with your very simple instructions. I would like to nominate you to be the CEO of Turbotax so you could teach them a few things that have been bothering countless people for years. Wishing you the best and hoping you will continue helping people with your wisdom.