mstsax
Level 3
 
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sjrcpa
Level 15

What is your question?


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abctax55
Level 15

Huh ?

"*******Tax software is no substitute for a professional tax preparer*******
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mstsax
Level 3

I got a “Suggestion” on my return that said the program saw that there was SE income and Foreign transactions on the K-1.  So it warned that the program doesn’t allocate SE expenses related to K-1 income to the 1116.  Examples include SE Health insurance, deductible portion of SE tax and SEP deductions.  I do not where to make these adjustments in the program.

itonewbie
Level 15

Does the partner have any foreign source self-employment income under the General Limitation basket?

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mstsax
Level 3

No.  She has only Foreign divs on stock investments.

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itonewbie
Level 15

Then, there's nothing to allocate.

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Still an AllStar

View solution in original post

mstsax
Level 3

Thank you!

itonewbie
Level 15

NP, @mstsax!

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