How to input K-1 Box 11, Code I information

Forum|Forum|5 years ago
September 5, 2021
5 replies
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I have a K-1 that lists a number in Box 11, Code I. When I input that into TurboTax, it says that this information may need to be input elsewhere in my return. My K-1 says that 1040 filers should enter the number for Box 11, Code I on Schedule D, line 5, column H. But if I enter than manually, or add it to the number already calculated by TurboTax, the only way I know how do to that is with an override, which TurboTax treats as an error, and says I can't file electronically. How do I input this number without using an override? (I have the same question for other numbers on the K-1s that TT says need to be entered elsewhere in my return).

Anonymous_

Level 15

You should see the following screen after you select Code I for Line 11.

Other information may have to be entered in Forms Mode (not available in the online versions of TurboTax) on the Schedule K-1 Partnership Additional Information worksheet.

Investor_Author

Level 2

When I input the information from K-1 Box 11 Code A, and Code 11, into TT, it automatically input that information into a form labeled Schedule K-1 Partnership Additional Information. However, when I right-click on the number that has been input into that schedule, and click on "About Other Inc. Code xxx", it takes me to a screen that reads as follows:

"Line 5 - Other portfolio income (loss)
Any other portfolio income (loss) should be entered on line 5 AND entered on the form or schedule indicated by the instructions to the K-1."

So TT is telling me that the Partnership Additional Information Sheet is for my information only, and I still need to manually input the relevant numbers into the schedule indicated in my K-1. How do I do that without an override?

Anonymous_

Level 15

@Investor_ wrote:
So TT is telling me that the Partnership Additional Information Sheet is for my information only, and I still need to manually input the relevant numbers into the schedule indicated in my K-1. How do I do that without an override?

You can input information into the Schedule K-1 Partnership Additional Information worksheet without an override, but there may be instances where an override is required on other forms or schedules. In those instances, the Accuracy Guarantee would be void.