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.
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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.
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