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