turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

K-1 review states: Tax Code I Ln 2 col 3 is listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1.

I'm getting the above when running the check on my taxes. I've seen it recommended to go back to Wages & Income > Less Common Income > Foreign Earned Income and Exclusion > and enter in information under a K-1 entry. However, I tried that with the limited information on my K-1 and I went from having one entry to correct to having 7 entries to correct. Included in the 7 entries was the original one indicating the "no foreign source". Questions I cannot answer on the Foreign Earned Income and Exclusion are things like the address of the business in the foreign country (the mlp is in the US in Texas), etc. So, it seems this suggestion gets me further from a resolution and not closer.  I have entries in box 16 of my K-1 for A, B, G, I, N and P.  Suggestions on how to proceed would be greatly appreciated.



Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

5 Replies

K-1 review states: Tax Code I Ln 2 col 3 is listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1.

Go to Forms Mode.

In the left pane, click on the k-1 partner. The k-1 will appear in the right pane. Scroll down to  Part III. Just above 12, there is a quickzoom button to enter additional info for codes A,B, & I. Click on it to bring up the Additional info wks. Scroll down to Box 16 Foreign transactions. You will notice an entry in Row 2, col. 3. (foreign interest expense). What TT wants is the income for which the interest was used.
Type in the amount of 16 code G. in the cell above it. Make sure it is equal to or greater than interest amount. You should not longer see any cells highlighted in red.

K-1 review states: Tax Code I Ln 2 col 3 is listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1.

The amount on my K-1 for 16 G is less than the amount for 16 I. So, that doesn't seem to be a fix I can use.

K-1 review states: Tax Code I Ln 2 col 3 is listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1.

Use the amount on 16 B
starr8992
New Member

K-1 review states: Tax Code I Ln 2 col 3 is listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1.

YOU ARE MY HERO!  I would never have figured this out.  Thank you so much!

K-1 review states: Tax Code I Ln 2 col 3 is listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1.

 The K-1 Item 16 indicates that schedule K-13 is attached.  I have received a K-1 and K-3.  the sender insists that K-3 must be entered although we are a Domestic partner with no foreign transactions.  It appears that I can not complete my 2021 filing without the following information:  Sch K-1 Partners Additional Info 1:  Fgn Tax Code I Ln 2 col 3 is listed but no foreign source income at individual level has bee listed on the K-1 Additional Information worksheet line .  Please advise where  this information can be obtained.  

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies