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Returning Member
posted Jun 3, 2019 4:35:03 PM

Can you explain why on schedule k-1, line 16B which say 'gross income from all sources' is showing an error?" and line 5 which is 'interest income' also shows an ERROR?

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2 Replies
New Member
Jun 3, 2019 4:35:04 PM

The issue regarding K-1, Line 16 B, is the issue of duplicating the form because all sources is in conflict by using both D and F, according to the live Intuit / Turbo Tax help line.  The young lady stated that a duplicate K-1 needed to be submitted, filling in (again) Parts I, II, and III (using line 2), and then Line 16's D or F (the opposite of your first entry).  Confusing? Yes.  I suggested strongly that this requirement be laid out with as much specificity and in plain language as could be and placed in the help menu.  After doing as instructed, this worked quite well and we completed the filing.  Good Luck.

Level 1
Jul 7, 2020 4:24:35 PM

Open up the K-1 that is giving you the error.  Scroll down to Line 17.  Above Line 17, click on Quick Zoom.  On Quick Zoom form scroll to area that says Code P,Q, etc.  Locate line 3a.  It states, "do you elect to forego completion of f1116."  Check mark the Yes box.  That will clear aoo errors and will dispense with foreign transactions.

 

It works.  If you created a second copy of any K-1 as the error message tells you, delete it first.

This problem drove me nuts for hours.

 

Good luck