Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Showing results for 
Search instead for 
Did you mean: 
Level 2

Schedule K-1 line 16

The Schedule K-1 has line 16 checked but the K-3 form attached to it has nothing entered under foreign sources.  Only amounts are under US source all the lines are blank for foreign source (and it is not a foreign property, its in the US).  Turbotax flags it.  Do i uncheck it or ignore the flag when I do turbotax review?

2 Replies
Level 15

Schedule K-1 line 16

i would suggest deleting the k-3 data and then unchecking the box. 

Level 2

Schedule K-1 line 16

But won't the IRS see the K-1 with line 16 checked and think I am hiding foreign money? 

Dynamic AdsDynamic Ads
Privacy Settings