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bc9460115
New Member

How to Enter Negative Number on K-1 Line 14H

On my Schedule K-1, Form 1041, I have an amount of $9640 in box/line 5, and on line 14H the same amount but as a negative number. I have entered the amount for line 5, and when I do it changes my estimated refund. But Turbotax won't allow me to enter the negative amount for 14H, only the positive amount. How do I account for the negative amount?

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4 Replies

How to Enter Negative Number on K-1 Line 14H

I cannot seem to reproduce your issue with Line 14H on my test return. Are you using a minus sign before the figure?

 

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How to Enter Negative Number on K-1 Line 14H

Also, note that the negative figure on Line 14H may not reduce your tax liability as it is strictly for calculating your exposure to the net investment income tax (NIIT) on Form 8960 (and you may not be subject to that particular tax).

bc9460115
New Member

How to Enter Negative Number on K-1 Line 14H

I am trying to enter a negative amount, but Turbotax does not allow the (-) in front of the number.

bc9460115
New Member

How to Enter Negative Number on K-1 Line 14H

I just tried again, after closing and re-opening the software, and now I am able to enter the (-) in front of the number. Thank you for your help!

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