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Interpreting help for "Schedule K-3 - Foreign Transactions Smart Worksheet" (desktop)


I have questions on some of the help entries.
Line B: Gross income from all sources - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column G

Should I sum the line 24 col G rows? I would think so since it says all sources.


Line J: Deductions allocated at individual level - Other - Enter from Schedule K-3, Part 2, Section 1, Line 54 minus the sum of lines 39-43, Column F

Obviously this should say "Schedule K-3, Part 2, Section 2, Line 54" since section 1 only has lines 1...24 and section 2 lines start at 25.


The easy fix for TT help would be to remove the Section notation, since there are no line numbers duplicated in Part 2. The same typo exists for lines J, M, N, and O. I don't plan to submit that as a documentation bug myself.


But my real question is when they say "Line 54" do they really mean (Line 54 Column F)? If they mean that, my entry for Line J will be zero. Which is fine if that is what they mean.

 

@Mike9241plus anybody else with info, please.

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Interpreting help for "Schedule K-3 - Foreign Transactions Smart Worksheet" (desktop)

I have questions on some of the help entries.
Line B: Gross income from all sources - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column G

Should I sum the line 24 col G rows? I would think so since it says all sources.

at the very top of line 24 column G should be the total you'll see lines A,B,C but above that should be the total of all those lines that's what gets entered. if it isn't there then you'll hve to total all those lines yourself


Line J: Deductions allocated at individual level - Other - Enter from Schedule K-3, Part 2, Section 1, Line 54 minus the sum of lines 39-43, Column F

Obviously this should say "Schedule K-3, Part 2, Section 2, Line 54" since section 1 only has lines 1...24 and section 2 lines start at 25.

Column F applies to lines 54  and 39 to 43. one could argue whether or not that's what Turbotax is saying, note that any of these lines can be zero

 

 


The easy fix for TT help would be to remove the Section notation, since there are no line numbers duplicated in Part 2. The same typo exists for lines J, M, N, and O. I don't plan to submit that as a documentation bug myself.

M comes from line 54 column C

N column D

O column E

any of thes amounts may be zero or the box may be blank

 

 

i would agree for part II the section number is not needed because line numbers are not repeated but in other parts they are 


But my real question is when they say "Line 54" do they really mean (Line 54 Column F)? If they mean that, my entry for Line J will be zero. Which is fine if that is what they mean.

 

yes column F. if line 54 column F is zero and lines 39-43 column F are zero then you are right the entry is zero  

 

 

@Mike9241plus anybody else with info, please.

View solution in original post

2 Replies

Interpreting help for "Schedule K-3 - Foreign Transactions Smart Worksheet" (desktop)

Interpreting help for "Schedule K-3 - Foreign Transactions Smart Worksheet" (desktop)

I have questions on some of the help entries.
Line B: Gross income from all sources - Enter from Schedule K-3, Part 2, Section 1, Line 24, Column G

Should I sum the line 24 col G rows? I would think so since it says all sources.

at the very top of line 24 column G should be the total you'll see lines A,B,C but above that should be the total of all those lines that's what gets entered. if it isn't there then you'll hve to total all those lines yourself


Line J: Deductions allocated at individual level - Other - Enter from Schedule K-3, Part 2, Section 1, Line 54 minus the sum of lines 39-43, Column F

Obviously this should say "Schedule K-3, Part 2, Section 2, Line 54" since section 1 only has lines 1...24 and section 2 lines start at 25.

Column F applies to lines 54  and 39 to 43. one could argue whether or not that's what Turbotax is saying, note that any of these lines can be zero

 

 


The easy fix for TT help would be to remove the Section notation, since there are no line numbers duplicated in Part 2. The same typo exists for lines J, M, N, and O. I don't plan to submit that as a documentation bug myself.

M comes from line 54 column C

N column D

O column E

any of thes amounts may be zero or the box may be blank

 

 

i would agree for part II the section number is not needed because line numbers are not repeated but in other parts they are 


But my real question is when they say "Line 54" do they really mean (Line 54 Column F)? If they mean that, my entry for Line J will be zero. Which is fine if that is what they mean.

 

yes column F. if line 54 column F is zero and lines 39-43 column F are zero then you are right the entry is zero  

 

 

@Mike9241plus anybody else with info, please.

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