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nationranch
New Member

On the K-1 for #11 i other income (loss) where do I enter this

why is the form for K-1 in turbo tax not complete for questions pertaining to PART II and PART III of the FORM???

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Accepted Solutions
IreneS
Intuit Alumni

On the K-1 for #11 i other income (loss) where do I enter this

Line 11 of the K-1 (Other Income) covers many many items.  Examples include: 

  • recoveries (bad debt or prior taxes)
  • ordinary gain/loss (which would go on Form 4797)
  • Net short- or long-term gain not portfolio income
  • Other nonpassive income
Each goes on a different place on the 1040.  There should be supplemental information, either at the bottom of the K-1 or on a separate sheet, that tells you what the "other income" is. 

Without this information, neither TurboTax nor you can enter the income in the right place.
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5 Replies
IreneS
Intuit Alumni

On the K-1 for #11 i other income (loss) where do I enter this

What type of entity issued the K-1, partnership, S-Corp, or Trust/Estate?
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nationranch
New Member

On the K-1 for #11 i other income (loss) where do I enter this

partnership
nationranch
New Member

On the K-1 for #11 i other income (loss) where do I enter this

where to I view your last comment I hate this thing it is too complicated it use to be much more easy

nationranch
New Member

On the K-1 for #11 i other income (loss) where do I enter this

Why is the K-1 Form not compete in Turbo Tax so that I can enter all of the PARTS on the K-1
IreneS
Intuit Alumni

On the K-1 for #11 i other income (loss) where do I enter this

Line 11 of the K-1 (Other Income) covers many many items.  Examples include: 

  • recoveries (bad debt or prior taxes)
  • ordinary gain/loss (which would go on Form 4797)
  • Net short- or long-term gain not portfolio income
  • Other nonpassive income
Each goes on a different place on the 1040.  There should be supplemental information, either at the bottom of the K-1 or on a separate sheet, that tells you what the "other income" is. 

Without this information, neither TurboTax nor you can enter the income in the right place.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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