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March 28, 2023
Question

Question on K-1 line 16 and Schedule K-3

  • March 28, 2023
  • 1 reply
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I have several K-1s and all have Line 16 checked because the K-1 includes a schedule K-3.  When I go to enter data in TurboTax under K-3 Line A - I am to enter Name of Country or US Possession.  The K-3 reflects only US earnings and no Foreign.  The TurboTax drop down menu does not give me the option for US or United States only not applicable or a list of foreign countries.  I went with not applicable but TurboTax indicates that I have to correct something.  Not sure what to do next since all Foreign related fields on the K-3 Schedule are blank and only the US Source has a figure listed.  Any suggestions?

    1 reply

    March 28, 2023

    US earnings for a US citizen are not reported so uncheck box 16.

    mao99Author
    March 28, 2023

    Thanks for the guidance Mike.