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Line 16 on Partnership K-1

tdfrance
Level 1

The K-1 from a partnership return in which a partner is an LLC reflects on Line 16 (Foreign Transactions) codes AA, AB and AC with amounts. The partnership has no foreign income or transactions and these codes were not reported on prior year returns. Any help?

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2 Comments 2
abctax55
Level 15

The IRS did change the codes this year...

"*******Tax software is no substitute for a professional tax preparer*******
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sjrcpa
Level 15

If it's not hurting anything let it be.


Ex-AllStar