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Level 1
posted Apr 5, 2023 4:37:14 PM

K-1 with Box 16 checked and a K-3 showing no income

I have two limited partnerships that have box 16 checked on the K1s, but the only value printed on the K-3s are part II lines 49, 54, 55 for column A and Column G.  Meaning there is no foreign income reported.

 

Because there's nothing there, TurboTax is blocking my filing until I fix the info on the worksheet: "Go back through the Schedule K-1 questions on the relevant Schedule K-1 Partnership and answer the foreign tax questions with information from your schedule K-3".

 

What are my options here? Just uncheck box 16 since there is no foreign income?  These are both new partnerships so I would to eventually see values in the other boxes on the K-3, but not this year.

 

Charles

 

 

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1 Replies
Expert Alumni
Apr 5, 2023 4:51:23 PM

Yes, uncheck box i6.  The IRS has copies of all of that stuff and they are aware that there is no relevant information on the K3.

 

@CDenny