Question

If I own shares in publicly traded limited partnership., What is the consensus on box 16 and k-3 s? should I just leave box 16 blank even tho it is checked on the k-1?

Forum|Forum|4 years ago
March 21, 2022
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TurboTax Premier Online

You can leave it checked, and file for extensions until it becomes available. Or you can uncheck it, file, and then amend your return if the K-3 actually has an impact on your taxes.

Given that every PTP K-1 is showing up with K-3 checked, and most filers will not be impacted, the latter might be the easiest way to go.

**Say "Thanks" by clicking the thumb icon in a post**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user. Use any advice accordingly!