turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

szielke
Returning 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

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Anonymous
Not applicable

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 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies