An S corp client received a K-1 (and subsequent K-3) from a 1065 passthrough. There was actually NO foreign tax paid or accrued, but the K-3 is filled out - sourcing the income & deductions between US and foreign sources. How & where is this info entered into the 1120s? I can't find any discussion or information on this.
You might want to check the box to have Lacerte fill out the K-3 automatically, put that information in a spreadsheet, add the K-3 info you have from the 1065, and then use the totals to guide your input into Lacerte.
