I am having a bear of a time this year trying to file my K-1.
This year, I have a K-1 with the following Box 16 Codes:
I do understand that I need to create a separate K-1 for specific codes, but right now I think my mind is mush. With EVERYTHING entered into one K-1, I get the following two errors:
Box 16 Description has been entered for code N and code M and/or code O. Use separate K-1 worksheets to report more than one type of foreign deductions sourced at the entity level.
Box 16 Description has been entered for code G and code F and/or code H. Use separate K-1 worksheets to report more than one type of foreign gross income sourced at the entity level.
So how many K-1s should I end up with when everything is said and done? This makes me think I should have
K-1 for A,B,P
K-1 for G,F
K-1 for N,M
Just very confused and figured I'd come to the community forhelp.
Since you have conflicting codes, if you create a second K-1 to put in the information for Code N and Code F that should resolve the conflicts.
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