Question

Help on K-3 Part X and II in Turbotax

Forum|Forum|3 years ago
April 7, 2023
1 reply
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In my K-1 form, box 16 is checked and K-3 is received. The K-3 indicates that only Part X is applicable to me. Turbotax only asked about part II and III. and it looks like there is no way to enter part x info.

Under federal review view, turbotax asked me to review my K-3 entries.

Does anyone know how to handle in this situation?

TurboTax Premier Online

AliciaP1

If you do not have any information populated on your K-3 for the line items and columns that TurboTax prompts during the K-3 entry section, you can go back and uncheck box 16 on your K-1 entry.

Businesses need to report this form for various reasons, including foreign partner ownership. The business does not actually have transactional amounts that need to be reported for a domestic partner if the prompted sections are blank or $0 on your form.

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