How do I enter Schedule K-3 Part X?

Forum|Forum|3 years ago
April 10, 2023
3 replies
34 views

I received a Form 1065 K-1 with an attached K-3. The K-3 contains only Part X. The TurboTax questionnaire only contained input prompts for Part I, II and III. What do I do?

TurboTax Premier Online

Best answer by PatriciaV

Schedule K-3 Part X reports income and deductions for Foreign Partners. This would not apply to a US resident filing Form 1040, which is why TurboTax doesn't ask for this information.

PatriciaVAnswer

Level 15

Schedule K-3 Part X reports income and deductions for Foreign Partners. This would not apply to a US resident filing Form 1040, which is why TurboTax doesn't ask for this information.

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bidabAuthor

Level 2

Unfortunately, TurboTax won't allow me to proceed with e-file if Box 16 is checked and no K-3 information is entered. Strangely, the included Part X of this K-3 only includes values in the (a) Total and (c) U.S. source columns. The partnership is US based and I am a US citizen. If there is no foreign source, can I just uncheck box 16 and disregard the K-3?

LindaS5247

Level 14

If you have no other foreign income or foreign tax credits to report on your return you do not have to include the K-3. Keep it with your tax records.

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