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Level 4

K-3 Questions

In my case, I clicked K-1 and entered all the information that TT asked.  Then TT continued and asked  "Is box 16 checked on your K-1?"  I answered "YES", TT started asking questions about K-3 From. 


I am so far unable to relate the K-3 to what Turboax has.

Me too,  for example, TurboTax wants me to fill out the information about K-3  Part II, Section 2, Line 54, however there is contradictions between Turbotax and Line 54 on K-3.


K-3 Questions

what do you mean there is a contradiction? there should be nothing in the k-3 in Turbotax until you manually enter it, Turbotax does not import the k-3 info

deductions allocated at individual level from Part (P) 2  Section (S) 1 Line (L) 54 Column (C) F less the sum of lines 39-43 column F

deductions allocated - foreign branch category P2, S1, L54, CB

deductions allocated - passive category P2, S1, L54, CC

deductions allocated - general category P2, S1, L54, CD

deductions allocated - other P2, S1, L54, CE



there can be info on other lines on the k-3 that Turbotax can't handle and may require you manually enter them on the appropriate form. some may not apply at all to some taxpayers.  



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