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?

399

Level 15

Sep 10, 2022 2:55:57 PM

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

Level 3

Sep 10, 2022 5:17:22 PM

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

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Schedule K-1 line 16