I am copying the 2019 K1 from Buckeye Partners LP. I keep getting error message that Box 16 Description has been entered for code N and code M. Use separate K-1 worksheets to report more than one type of foreign deductions sourced at the entity level. How do I get an additional worksheet to clear this type of error?
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To clear the error you remove one of the entries from the K-1 you have put into TurboTax. You then enter a second K-1 for the same partnership with the partnership information and your information. Then enter just the information for Box 16 for the other code. Leave all other numbered boxes blank.
This will clear the error.
It's inconvenient, and kludgey, but it sounds promising. Thanks!
could you give more detail on your answer as to what needs to be done with this error on Buckeye partners for line 16. I am using the desktop version. You say to remove one of the entries . which one? then you say--
Then enter just the information for Box 16 for the other code. What other code are you talking about . in looking at the k1 i received in the mail ( post office) and the one I imported into your turbo tax there is a lot more information on the imported version. They seem to have numerous countries on the imported version. If I was to delete the imported version and just type the information from the one they mailed me , would all my problems go away?
No, you need to remove one of the entries that is in conflict with another entry.
For example in Box 16, if you have an entry for Code N and Code M, on the original K-1 remove the Code M entry from Box 16. Now create a second K-1 for the same business and only enter the amount in Box 16 with Code M.
This will correct the error and allow the program to utilize the information correctly.
perfect that solved the problem. Thanks for the extra help.
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