How to enter certain items from 1099-DIV on LLC (Form 1065) return

First year preparing an LLC Return (Form 1065). Cannot figure out how to report the following items from the entity's 1099-DIV from Charles Schwab in TT Business.

1) Box 7 - Foreign Tax Paid

2) Box 12 - Specified Private Activity Bond Interest Dividends

Obviously need these to end up on the K-1s so these items are appropriately recorded on the individual partners' returns.

Thanks so much!

2956

1 Best answer

Level 15

Feb 23, 2020 8:35:03 AM

You will have to enter those items directly on page 4, Form 1065 (Schedule K) in Forms Mode.

1) The foreign transactions section.

2) Line 17 (f) - use the dropdown and select Other AMT items.

Level 15

Feb 23, 2020 8:35:03 AM

You will have to enter those items directly on page 4, Form 1065 (Schedule K) in Forms Mode.

1) The foreign transactions section.

2) Line 17 (f) - use the dropdown and select Other AMT items.

Level 2

Mar 17, 2020 1:30:35 PM

it is ridiculous that Turbo tax does not give us a better system for entering the 1099s They need to fix this !!! we use turbo tax because we are not accountants!!!

Why sign in to the Community?

How to enter certain items from 1099-DIV on LLC (Form 1065) return