Another K-1 Box 11 Code I Question
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Another K-1 Box 11 Code I Question

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

2 Replies
Highlighted
Level 15

Another K-1 Box 11 Code I Question

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 

Highlighted
Level 15

Another K-1 Box 11 Code I Question

 
v
Privacy Settings