Sch K-1 Wks-Partnerships: Box 16 is checked, but there are no entries in the Schedule K-3

[cheerful]

Hi,

I have a schedule K-1 with box 16 checked and I have the K-3 for it.

In schedule K-3, Part II, Section 1, the only country listed is US.  However, in TurboTax, the field "Name of country or US Possession" does not have a choice for US.

What should I choose?

Thanks

[PatriciaV]

While entering the K-1 via step-by-step, look for the page "Enter info from your Schedule K-3." In the drop-down for Foreign Country of US Possession, choose "Various" for US-sourced foreign income.

[cheerful]

Hi,

My K-3 has 1 row in Part II Section 1 line 24 for US.  column a US Source has 100, b to f is 0, then (g) Total is 100.

In TurboTax interview, Foreign Gross income - Gross income from all sources (Column G).  What should be the number then?  100?  But 100 is US source, not Foreign Gross.

Thanks

[cheerful]

Another K-3 has a row for US and has non-zero value in column F.  Since TurboTax is asking for "Foreign Gross income", should I enter the number as is or enter 0?

[LindaS5247]

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.