How to enter Schedule K-3 Line 24 & 54 information

[samzandt]

In the Step-by-Step questionnaire it asks "On your Schedule K-3, go to Part II, Section 1, Line 24 to fill out the information below". It then asks for "Foreign Gross Income - Gross income sourced at the partner level (Column F)".

My Line 24 has a total amount , an amount for the US and and amount for CA

Should I enter the total amount or just the amount representing the foreign country (CA)?

The next step asks for information from Line 54 regarding deductions. But this time it doesn't ask for "Foreign" deductions. It just says "Deductions allocated at individual level - Other (Column F...)".  Am I supposed to separate out the foreign components or just put the total amount.

This is a bit confusing. Thanks for any help...

[PatriciaV]

For the first question about Foreign Gross Income, enter the amount on Line 24 Column F. There should be only one number for Line 24 under Column F. But if you have more than one type of income (extra lines A, B, C under the line number), you will need to create a separate Schedule K-1 in TurboTax for each type to report these amounts.

For the Deductions - Other, enter the total amount on Line 54 Column F, after deducting any amounts from lines 39, 40, 41, 42 and 43. You will need to do the math and enter the result (one number).

[samzandt]

Thank you for your response. Just to clarify, the step-by-step instructions say you would need an additional K-1 form if you have more than one type of Foreign Source income; i.e. column (b) Foreign branch income and (c) Passive income. But I'm asking about the number in column (f) Sourced by partner. Row 24, Column F has a sub-row for Total gross income, another sub-row "A US" and another sub-row "B CA". So its listing the Sourced by partner gross income for each country (the US and CA) under the total. Do I need a separate K-1 for each country as well as a separate K-1 for each type of Foreign Source income?

Thanks

[rowala]

I have exactly the same question,and the response really did not address it.

[ghbarratt]

On my K-3 I ONLY have a top line and a line A for "US" so yeah, I too am really confused as to what to report for "Foreign Gross Income" into Turbotax. The Actual K-3, Part II, Section 1, line 24 is labeled as "Total gross income" NOT "Foreign Gross Income" so what is actually supposed to go into Turbotax if there is NO "foreign" income, but there IS domestic income?

[DaveF1006]

No. you do not need to report a Schedule k-3 if there is no foreign income to report.

@ghbarratt