TurboTax Newly added K-3 has a bug - need fixing

[Anonymous]

+1 to what @Gene357 and others have said. The K-1 flow is a disaster. The inability to specify US income, inability to enter multiple countries without multiple K-1s, and the long-standing need to enter multiple K-1s when there is the tiniest value in box 2, make this a nightmare to fill out.

Please just make your inputs actually match the K-1 and K-3 forms, with recognizable column titles.

If this is not fixed by next year, I will no longer use Turbotax. It's just not worth the trouble.

[aE]

I'm not sure if this is related but I've selected every option under "Various", "XX", you name it. TT won't let me file because I keep getting the following message where I have entered in 0 for foreign sourced. I have tried everything and notes from last year state the Total needs to sum to US Source + Foreign. I'm not getting an error that the amount doesn't match another line and I've tried small positive and negative numbers in each but nothing works.  Any thoughts?

Check This Entry

Sch K-1 Partnership Additional Info 1: Foreign other expenses allocated at partner level are listed but no foreign source income at individual level has been listed on the K-1 Additional Information worksheet line 1.

Fgn Tax Ln J Ln 3 col

[DaveF1006]

If your K-3 has no foreign sourced income listed and only lists US-sourced income, do not report the K-3 on your return and uncheck the box indicating you have a k-3. 

@aE 

[brownize]

Dave F,

And the IRS is okay with this????

"uncheck the box"

Does TT stand behind this if we get a penalty for an incorrect entry?

Thanks.

[LindaS5247]

Yes it is ok, If you have no other foreign income or foreign tax credits to report on your return you do not have to include the K-3. Keep it with your tax records.

[toadflaxfan_dcny]

I had the exact problem your method addresses. I had spent several maddening hours trying to find/get some help.  I finally found your post on Thursday April 13 and it worked like a champ.  Thanks for saving my sanity and helping me get my taxes done on time.  TurboTax Premiere was not giving me a clue how to get my K-3 entered.  Thanks again.  

[Gabriela2]

how did you resolve it?

[KB-Tx]

I'm with you Gene. It's clear that Intuit has looked at the statistics, number of users with the K-3 issue, and decided it's just too small a number to expend additional resources addressing it properly. Instead they offer platitudes and half measures designed to pacify the users and rationalize why they don't need to fully implement the K-3 form. Curiously, the financial firms that provided us with the K-3s in the first place saw it differently.  

Intuit's failure to step up and say they'll financially stand behind our tax returns if the IRS finds fault with the K-3 handling tells us everything we need to know.

Frankly, I think we've all been had. Despite their advertising TurboTax is only suitable for simple returns. For those of us with more complicated situations, like the K-3, it's best to dump TurboTax and seek out a professional accountant.

[ksal21]

Ah, but TT Home & Business now won't let me uncheck box 16!  What a pain in the you-know-what.

 EDIT:  Check that: it does when it asks the redundant question whether there's anything in Box 16.  Puh.

EDIT 2:  Check the check.  I replied no when TT asked "Is box 16 checked on your K-1..." but the box is STILL checked on the screen that asks you to check all of the boxes that have entries.  Moreover, the federal review still flags this as an hour, insisting that I enter the Foreign Tax Line J Line 3 column 3.  Queue the Twilight Zone theme song...

Ken

[AliciaP1]

You may have left an amount in one of the boxes when entering the K-3.  You need to go back through the screens for entering the information and delete any remaining amounts.  Then go back to the Check boxes that have an amount or are checked on the form screen and you should be able to uncheck the box.

@ksal21 

[Gene357]

Hi Ken,

You may need to go to the manual forms view and delete the K-3 forms that remain from when you entered information. I think then you will be able to uncheck box 16. As always, save a backup first!!! Good luck.

--gene

[ksal21]

Too late.  After TT wouldn't let me e-file - another senseless frustration, not letting me utilize a service that was part of the purchase price (breach of contract?) - I had to print the forms and then scramble to get them to the post office before evening meetings. 

[toadflaxfan_dcny]

To: @Gabriela2 

My post on Sunday 4/16/2023 where I said "your method' worked for me, was referring to the post by

@leewilson4416  on April 3,2023 8:05am in the posts on this subject.  As a new member, I foolishly thought that by clicking REPLY next to his post that my attempt at a thank you would show up as a sort of sub-thread. 

His situation was exactly what I had - a K-3 with no foreign values anywhere and TurboTax ignoring column a and asking me to enter stuff for col b and so on.  Lee's bypass of just entering the totals (col g) worked (i.e. it made TurboTax "happy").  Clearly, after reading through the wide variety of problems relating to the K-3 (which I only got for the first time this year as part of my K-1 package),  it would be nice if TurboTax would shift some of the money being spent on TV ads convincing  people they can do their taxes painlessly during a video chat to cleaning up the whole K-1 area.  I remember how relieved I was at first when I saw TurboTax knew about the K-3 form and then how frustrated I got when they skipped column a where the only non-zero numbers were.

It took hours of my time before I found lee's post and was able to get on to the state taxes.

Good luck to everybody