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blah
Level 3

My Schedule K-1 Partnerships shows distributions in parenthesis, do I enter that as a negagive or postive number into Turbo Tax Online?

I have always added them as negative numbers, because I assumed it was a withdraw.  However I just received one from a bankrup partnership that has its distribution not only in parenthesis but also has a negative number.
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3 Replies
IreneS
Intuit Alumni

My Schedule K-1 Partnerships shows distributions in parenthesis, do I enter that as a negagive or postive number into Turbo Tax Online?

Usually negative numbers are noted with parentheses around the number OR a minus sign in front of the number -- not both.

This is most likely a punctuation mistake.  Enter the number as a negative number with a minus sign in front of it.

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sakh
New Member

My Schedule K-1 Partnerships shows distributions in parenthesis, do I enter that as a negagive or postive number into Turbo Tax Online?

I have a related question - so in Part 2 section L I see the withdrawals and distributions number in a parenthesis but then in Part 3 # 19 the same number is listed as a positive. Is it a positive or negative then?

AliciaP1
Expert Alumni

My Schedule K-1 Partnerships shows distributions in parenthesis, do I enter that as a negagive or postive number into Turbo Tax Online?

Part 2 is a mathematical function where the parentheses represent subtraction.  Box 19 shows Partner Distributions of cash or property.  When you enter your Schedule K-1 into TurboTax, you are completing Part III so enter the amounts as they show in those boxes.

 

@sakh 

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