K1 blackstone help with box 16

[carlsonvln]

I get an error on Box 16 B saying "Box 16 Description-1 has been entered for more than one type of income.  Use separate K1 worksheets to report more than one type of foreign gross income sourced at the entity level."    I have read the Accepted Solution for the K1 Blackstone help with box 16 but I do not have and line 16E only line 16D.  I have only income listed in Box 1.  Box 2 and 3 show 0.  I have entered Various in 16A but I have no idea what countries would be involved.  What do I do to remove this error?  And what do you mean by entering separately.  Are you referring to the Supplemental information?  

[urdesai]

---

@carlsonvln wrote:

I get an error on Box 16 B saying "Box 16 Description-1 has been entered for more than one type of income.  Use separate K1 worksheets to report more than one type of foreign gross income sourced at the entity level."    I have read the Accepted Solution for the K1 Blackstone help with box 16 but I do not have and line 16E only line 16D.  I have only income listed in Box 1.  Box 2 and 3 show 0.  I have entered Various in 16A but I have no idea what countries would be involved.  What do I do to remove this error?  And what do you mean by entering separately.  Are you referring to the Supplemental information?  

---

[rafar]

Having the same problem with block 16 Foreign Transactions...no matter how many K1's I use to separate the entries. Unable to file with the error.  Since the numbers I put in don't seem to affect my tax liability I am inclined to omit them altogether and let IRS put me in jail....Jail might be better than dealing with the Blackstone K1 and TurboTax

[HollyP]

TurboTax needs a separate K-1 entry for Box 1 and for Box 16, Code D, E, and F. Please delete the K-1s you have entered and take the following steps.

Add a K-1 with only the Box 1 income. 

• This income is probably interest income and needs to be reported as ordinary income.
• Enter Part I and Part II information.
• Do not check off any other boxes on the Check Boxes That Have an Amount. Leave these blank.

Add additional K-1s with Box 16 income.

• When in the K-1 section of TurboTax for box 16A, you can select various from the drop-down list for Foreign County or Possession.
• Please pay attention to the note on that page too that states, "Note: You must enter in separate K-1's if you have more than one type of foreign gross income (Codes D, E, & F)."
• If you have code D, E, & F, then simply add a separate K-1 for each code D, E, or F accordingly. 

[watchtv]

This is too much work.  In the 2017 turbo you could enter all the data on one K-1.  Under your work around on which K-1 do you enter the amounts in Boxes 5, 6, 7, 9, 10, 11, 13, 16, 17, 18, 19 and 20.  Do you need a separate K-1 for each entry in box 16.

[saibal_bhatta]

In my Box 16, I have codes A,B, C, E , G, I.

Why am I getting the same error?

Regards

Saibal

[eccherokee]

I am getting the same error, and I would hope an update could be made to the Turbo Tax program to not require a split in entries for Blackstone. In addition to the Box 16 codes B, C, D, and F, there are five more in the additional statement (I, J, M, Q and U) and zero guidance as to what applies to what types of income, or if you need a separate K-1 for them all.  But, time is very short - best recommendation would be greatly appreciated!!

[saibal]

I am really frustrated with turboTax help. Next year I'll use some other software.

[Anonymous_]

For those with a Blackstone K-1, you might want to read through the following thread.

https://ttlc.intuit.com/questions/4730533-k-1-from-the-blackstone-group-lp-and-how-to-input-in-tt