Hello,
I am trying to amend my tax return to include Schedule K-1. K-1 has Box 16 checked. K-3 has only Parts I and III that do apply. However, TurboTax asks me to enter certain lines from Part II that I don't have in my forms because Part II doesn't apply. I don't know how to proceed further. I'll appreciate any help/advise how to file it properly. Thanks.
You'll need to sign in or create an account to connect with an expert.
delete any k-3 entries then uncheck the k-3 box on the Turbotax k-1
Thanks. So, even if I have Box16 checked in my form, I should answer "No" to the TurboTax's question about Box 16? Will that be a violation?
correct PART II is for the foreign tax credit form 1116. if box 21 Foreign Tax credit on the k-1 is blank or zero there is no FTC so there's nothing to report about the FTC at least for this partnership.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
AlexSagrat
Level 2
Grandma8
New Member
jim202400
New Member
xgempler
New Member
sericksontx
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.