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mas1998
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
Mike9241
Level 15

Schedule K-1 line 16

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

mas1998
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? 

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