Form 1041 Schedule K-1 with a negative number for box 14. The code H. Should this be a deduction? TT does nothing with this amount at all. Thanks!

[d.i.neff]

My box 14 has an amount with Code H (negative amount) - the number is inside parentheses, which should mean a negative amount, but when I added it to my return, nothing happened.  I've tried using it as a negative number, a positive number, and just removing it, and nothing changes.  How do I work this so Turbo Tax figures it correctly?

I started using the free program but I believe I've been bumped up to Premier because of this form.

[Anonymous_ · Accepted solution]

"Should this be a deduction?"

It is a deduction on Form 8960 that goes into the calculation of your net investment income on that form. 

A negative number from your K-1 is a good thing since that reduces the amount that could potentially subject you to the Net Investment Income Tax (which you clearly do not want to be subject to). 

TurboTax will make the calculation automatically, so you simply have to enter the number. If you are not subject to the NIIT, you will not see any change.