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maxinedwood
New Member

How do I get my S-Corp K-1 Box 10 code E to flow to Schedule D, Part II Line 12? This gain needs to show up on line 12 and not on Line 10.

I sold my S-Corp in a varied part transaction.  I am certain that Code E on my K-1 is meant to flow to line 12 Net long term gain from S-Corporation from Schedule K-1 (the corporate tax accountant confirmed it).  But every entry I put in TurboTax puts it on Form 8949 and Schedule D Part II line 10.

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Accepted Solutions
IreneS
Intuit Alumni

How do I get my S-Corp K-1 Box 10 code E to flow to Schedule D, Part II Line 12? This gain needs to show up on line 12 and not on Line 10.

According to the instructions for the 1120S K-1, it is Box 8a on the K-1 that should flow to Schedule D, line 12.

Box 8a. Net Long-Term Capital Gain (Loss)  Report the net long-term capital gain (loss) on Schedule D (Form 1040), line 12.

Box 10, Code E should flow to line 10 of Schedule D.





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2 Replies
maxinedwood
New Member

How do I get my S-Corp K-1 Box 10 code E to flow to Schedule D, Part II Line 12? This gain needs to show up on line 12 and not on Line 10.

I am entering the total in TurboTax as Long-Term Capital Gain not Portfolio Income
IreneS
Intuit Alumni

How do I get my S-Corp K-1 Box 10 code E to flow to Schedule D, Part II Line 12? This gain needs to show up on line 12 and not on Line 10.

According to the instructions for the 1120S K-1, it is Box 8a on the K-1 that should flow to Schedule D, line 12.

Box 8a. Net Long-Term Capital Gain (Loss)  Report the net long-term capital gain (loss) on Schedule D (Form 1040), line 12.

Box 10, Code E should flow to line 10 of Schedule D.





**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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