Question
Foreign Tax from PTP and Entering on 1040
Looking to see what creative workaround anyone has found to enter foreign taxes passed to partner from PTP. From what I see, the PTP reports tax amount on Line 21 of K-1 and gives supplemental information in a schedule. Our K-1 input screen for 1040 has Line 21 entry but does not carry the foreign tax anywhere to be used.
I have developed a workaround but was wondering if I am missing anything in the software?
