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laroph46
New Member

I received a K-1 from Bermuda(Lazard, LTD) but in K-1 info on turbo tax form it asks for "address and state" and will not accept Bermuda-only US states. How dos I proceed

 
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MargaretL
Employee Tax Expert

I received a K-1 from Bermuda(Lazard, LTD) but in K-1 info on turbo tax form it asks for "address and state" and will not accept Bermuda-only US states. How dos I proceed

You may use your own address for data entry on Schedule K-1, if you have a foreign address.

The most important item on the K-1 is the EIN and name of the business. The K-1 general information is not filed with your tax return; and the values from K-1 flow to Schedule E and other respective forms.  It is not critical nor problematic to enter other address.  

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2 Replies
MargaretL
Employee Tax Expert

I received a K-1 from Bermuda(Lazard, LTD) but in K-1 info on turbo tax form it asks for "address and state" and will not accept Bermuda-only US states. How dos I proceed

You may use your own address for data entry on Schedule K-1, if you have a foreign address.

The most important item on the K-1 is the EIN and name of the business. The K-1 general information is not filed with your tax return; and the values from K-1 flow to Schedule E and other respective forms.  It is not critical nor problematic to enter other address.  

rodriguerex
Level 1

I received a K-1 from Bermuda(Lazard, LTD) but in K-1 info on turbo tax form it asks for "address and state" and will not accept Bermuda-only US states. How dos I proceed

I must have been confusing. I live in the US. The partnership has a Bermuda address. Turbotax requires me to enter a US state, so this partnership does not seem to be able to be issued. Any suggestions?
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