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taxspin
Level 1
05-11-2022
12:06 PM
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I have a partnership with some foreign activity from pass through K-1s. I have input the necessary foreign info on screen 78. This foreign info is flowing correctly to the Form K-2 for the partnership. However, I cannot figure out how to get the rest of the partnership info which is US sourced to flow to the K-2. I know that if the partnership only has US Sourced income I can check the box on screen 78.1 - that says "compute US Source gross income and deductions (if no foreign activity)"- but this is not my situation because I have foreign activity.
I just can't find any way to have the remainder of US Source gross income flow correctly to the K-2--- other than manually calculating this myself on a spreadsheet--- which seems really inefficient.
Has anyone figured out a way to deal with this?
Thanks for any help!
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2 Comments 2
sjrcpa
Level 15
05-11-2022
01:09 PM
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Did this help?
How do you get US Source income to populate in K-2... - Intuit Accountants Community
Tis better to follow up in your original post than to ask again.
The more I know, the more I don't know.
taxspin
Level 1
05-16-2022
07:54 AM
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Hi-
Sorry about not following up on my original post. I am new to this community. The article referenced didn't solve my problem. I actually spoke with Lacerte last week and it appears that the only way to get the US Source income to populate in the K-2 when you have Foreign Source income of any sort is to manually enter the US Source income on screen 78.2. I guess we will have to develop some sort of spreadsheet to back into this number since we have lots of pass-thru income coming through. It is a frustrating situation.
