I have the following on my K-1 and am trying to map it into TT (numbers altered):
I go to the additional information worksheet.
Box 11 Code I: TOTAL OTHER INCOME (LOSS) (2,999)
NET SHORT-TERM CAPITAL GAIN (LOSS): 1,865 - Code I Line 3 worksheet
OTHER TRADE OR BUSINESS EXPENSES: (7,395) - Code I Line 5 worksheet??
U.S. GOVERNMENT INTEREST INCOME 1,369
OTHER INTEREST INCOME - U.S. 1,367
FOREIGN CURRENCY GAIN (LOSS) - SECTION 988 (205)
Thanks for the help
tt can't habdle this in the way presented so you have to change the numbers that you enter from the K-1
increase line 5 by 1369 + 1367
reduce line 11 by 1369 +1367 - 205
use the line just below lline 5 to report the feederal interest income
report section 988 loss on schedule 1 other income as follows - k-1 section 988 loss -205
under code section 988 the gain or loss is treated as ordinary income