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K-1 with foreign income


Eli

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Working on a couple's return. He has 5 K-1's. On one of them there is foreign income, but it says 'other countries'. When I do an error check, it says: If there is an amount on line 3b for other deductions, the line 3b 'Statement for Other Deductions related to Gross Foreign Income must be filled out.

Any help where I can find the info that goes on there?

Thanks!

Eli

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Working on a couple's return. He has 5 K-1's. On one of them there is foreign income, but it says 'other countries'. When I do an error check, it says: If there is an amount on line 3b for other deductions, the line 3b 'Statement for Other Deductions related to Gross Foreign Income must be filled out.

Any help where I can find the info that goes on there?

Thanks!

Eli

How much in FTC does your client have? If under $600, delete the 1116 and 1116 AMT and the error code will go away. If it is more than the $600, then you have to determine the foreign income and fill out the 1116. On that stupid 3b questions, put anything, anything at all, like "other itemized deductions", and move on.

Hth!

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How much in FTC does your client have? If under $600, delete the 1116 and 1116 AMT and the error code will go away. If it is more than the $600, then you have to determine the foreign income and fill out the 1116. On that stupid 3b questions, put anything, anything at all, like "other itemized deductions", and move on.

Hth!

Thank you, Maribeth :)

Eli

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