K-1, K-3

[sjbo1]

I am in an investment club and we got a K3 this year attached to the K1.  when preparing taxes using TurboTax Deluxe, I get a message - 

Sch K-1 Wks-Partnerships (The 6000 Club): Box 16 checkbox indicates this K-1 includes Schedule K-3 with foreign tax information. Schedule K-3 will be available in a future release.

Is there an upgrade planned so that I can finish my 2021 taxes?

Thank You

[Anonymous_]

See the following thread:

https://ttlc.intuit.com/community/business-taxes/discussion/schedule-k-1-says-attached-k-3-but-not-r...

[sjbo1]

it's unfortunate that there isn't any really good answers provided in the link/comments provided in reply to this question.  as a TurboTax customer, it would be better if the software would allow you to bypass/correct the error message so that you can complete your taxes.  Now I am left to wonder what I am to do.  Since my K1 is supplied from my investment club, and K1 box 16 has the check mark in it, how do we proceed?  do I just tell TurboTax that box 16 is unchecked?  that doesn't seem totally correct.  So what is the approach to take?

[MarilynG1]

Most forms K-2 and K-3 forms do not need to be filed this year.

The IRS announced on Tuesday February 15, 2022 that most K2/K3 reporting for 2021 can be delayed until the 2022 tax return filing.

This link provides more info on K-1 Box 16 Filing.

[hbvon1]

On a  parallel TT chat board re K-3, one member posted a practical answer .Uncheck box 16 and file. If need be 

(my case) follow up with a 1040-x amendment to claim any foreign tax credit..I have the K-3 info but

unsure presently  how to handle the filing etc. . The amendment can be filed once the confusion clears . .