Question

I am on TT Premier:It's after 3/20 for the K-3 that applies to me for partnership with foreign income

Forum|Forum|4 years ago
March 24, 2022
1 reply
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I get the following message:

"You've done a great job starting your taxes early, but the IRS is still working on finishing up the Schedule K-3 for 2021. That means this area isn't quite ready yet. Check back soon and we'll help you finish up."

Let's keep working on other parts of your return."

TurboTax Online

M

Mike9241

the IRS has waived k-3 reporting for 2021. the problem comes about if that k-3 reports foreign tax credits. there really isn't a way to claim those credits without the form. however, in many cases, there will be no FTC. your options are to file now and amend if there is FTC or file an extension and wait for the partnership to provide the k-3 info. To file now uncheck the k-3 box on the Turbotax k-1 form.

S

sshack2020Author

The partnership has provided the K-3 info. I still need to be able to enter the info in TT because of the foreign income & tax. There lies the issue. So, an update to TurboTax is needed. Right now, TT won't let me enter anything. When is an update going to be rolled out for this purpose? Thanks