I'm using TurboTax 2022 Home & Business for Mac. I have a Schedule K-1 (it's an investment fund) with attached Schedule K-3 that has some foreign interest. I've gotten partway through filling out the TT screens when I reach one for line 54 that is especially confusing. See the below image where I've circled the 2 lines in Red.
Pretend my line 54 column f has 100 in it and the total of lines 39-43 column f is 25. What do I enter into the 2 boxes outlined in red below?
On related, but separate note, my K3 shows a number in column A (US source) as well as a small amount of foreign source numbers. I'm never asked to enter any amount in column A. Is this a TT bug or am I supposed to add/subtract the foreign amounts from the US amount in some way?
Thanks!!!
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Since your post gives the example "total of lines 39-43 column f is 25" this is what you enter in the first box you outlined in red for Interest Expense (as it asks for the "column F - sum of lines 39-43") and your example "line 54 column f has 100 in it" means you put 75 in the second box (100 - 25 = 75).
The K-3 entry interview asks you to input the key items from your Schedule and refers to the columns you need to reference. Column A (US source) is not referenced because it is for informational purposes to you as the recipient only.
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