Hi, I'm trying to input data from my Schedule K-3 (attached to my K-1) into TurboTax, and I'm a bit stuck on how to handle the foreign country section.
On the TurboTax screen titled "Enter info from your Schedule K-3", it says:
"On your Schedule K-3, go to Part II, Section 1, Line 24 and enter the foreign country for which you are reporting foreign taxes paid or accrued."
But there's only a single-select dropdown for one country. My K-3 includes three countries, including the US (if that counts), but not all columns (b), (c), (d), and (e) have values for each.
There’s also this note on the screen:
"You must enter separate K-1 worksheets if you have more than one type of foreign gross income in columns (b), (c), (d), and/or (e)."
My questions are:
Does that note apply to multiple countries, or only to types of income (columns b–e)?
Since I have 3 countries listed (some with no numbers in certain columns), do I need to create multiple K-1 entries in TurboTax?
I'm already splitting the K-1 because both box 1 and box 2 are populated—does this mean I now need to create 4 K-1s inside TurboTax for this one paper K-1?
Any guidance would be greatly appreciated! Thank you!
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1. Only to types of income. For the country select "Various".
2. No.
3. No. Only two K-1s for the income in boxes 1 and 2. The second K-1 should only have the entry for box 2 in it. The rest of the numbers should all be entered on the first K-1.
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