K-1 Part 3 line 5 questions

Forum|Forum|4 years ago
May 4, 2022
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What income/investment inputs does TT business 2021 use to calculate K-1 part 3 line 5 (other portfolio and non business income) and part 3 line 14 "H" (Adjustment for section 1411 net
investment income or deductions) values?

The only income items in the trust are mutual fund dividends and cap gains along with a home loss carry over /forward.

I can't seem to find where the inputs values are coming from and then how the calculation is being done. Is there a way to do this? Thanks!

TurboTax Business Windows

Best answer by Anonymous_

Read the instructions for Line 5 (link below):

https://www.irs.gov/instructions/i1041sk1#en_US_2021_publink1000306351

You can check where your figures are ending up by entering Forms Mode and opening your K-1 Worksheet. From that point, you can put your cursor in Line 5 and click the magnifying glass.

Anonymous_Answer

Level 15

Read the instructions for Line 5 (link below):

https://www.irs.gov/instructions/i1041sk1#en_US_2021_publink1000306351

You can check where your figures are ending up by entering Forms Mode and opening your K-1 Worksheet. From that point, you can put your cursor in Line 5 and click the magnifying glass.