When will Schedule K-3 be available through TurboTax? IRS has had form available for months.

[Gustavus]

My firm give me a K-1 with a new K-3.  For reasons of reporting an FTC under Form 1116 (for this K-1), I need TurboTax functionality with K-3.   When I go further through prompts, I  get the following message:

"You've done a great job starting your taxes early, but the IRS is still working on finishing up the Schedule K-3 for 2021. That means this area isn't quite ready yet.

Check back soon and we'll help you finish up.

Let's keep working on other parts of your return."

I know you say its an IRS K-3 release issue (Mar 20 release), but I could care less.  I need to know when TurboTax will have K-3 functionality implemented.  There are many errors in the return as a result and it does not calculate FTC on Form 1116 properly because of this.  Please do not respond with the banal response of trying a workaround to file the 1040. I do not want to do that.   

When TurboTax will have K-3 functionality implemented?

Please respond 

[killerasteroid]

The K-3 is only supported if you print and send in your return. Most of us do taxes electronically and for efile, the K-3 FORM is not supported by Turbo Tax. You can see this in your link you provided.

[killerasteroid]

It's box 16 you uncheck, not box 14 but the idea is still sound.

[kevinr4753]

I believe that the Schedule K-1 form box is 16 (Schedule K-3 is attached if checked), is it not?

Kevin

[Gustavus]

Having spoke with TurboTax directly, I found your reply incorrect and unhelpful. 

Do not respond further to any of my posts 

[whoknows24]

Gustavus, what is the phone number to speak to TurboTax directly?

Edit: it is 1 800 4 intuit

[phone number removed]

[epinhead]

deleted

[rolahr]

SYSTEM SAYS NOT AVAIABLE HELP

[Katina S]

You're required to report international tax relevance on Schedules K-2 and K-3 if you file Form 1065, which isn't scheduled to be available until March 20, 2022.

Here is a thread with additional information discussing why most K-2 and K-3 forms will not need to be filed when preparing 2021 tax returns.

                                                                                                                                        [Edited 3/19/2022 9:45 PST]

@rolahr

[jmieloc1]

Can Turbotax provide an update to the Schedule K-3 availability for e-file.  It is now 3/20/2022 and I do not see that the online TurboTax software has been updated to include entry of the K-3.  Thank you!  (I do have a foreign interest on my K-3 which does not exempt me from filing the K-3 this year)

[MBUBELNIK]

just FYI this is the first year for the K-2 and K-3 which is why you have never seen this issue before.  Also My ETF has not sent me a K-3 and say it won't be avalable untill AUGEST?

[Gustavus]

Unacceptable.  Other tax software does not have this problem.  

Get your act together TuboTax. 

[limaricole]

I believe there may be a bug in the Schedule K-3 entry.  It will not allow me to enter the US source deductions (col. A) nor the total (col g).  Thus the amount it computes for the column A amount is only the column F amount, which is incorrect.  I have tried deleting the entire K-1 and reentering both the K-1 and K-3, but still having the same problem.  My other K-3 (for a different K-1) goes in just fine.  

Both K-1s are partnerships and both are PTPs.  The only entry difference to speak of is the K-3 that is having the problem has an amount in Box 1 while the other one doesn't.

[Mike9241]

for 1040 purposes the k-3 is for foreign source items so US source items (ie for foreign tax credit) do not get entered unless you are filing form 1040NR which Turbotax does not handle.