Solved: Problem filling out section for K1 interest income from LLC partnership
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Problem filling out section for K1 interest income from LLC partnership

Interest  income I received from partnership in LLC partnership does not show up as being entered. When I go back to review the section for entering the K1 information, the query asking 'who is this income for - yourself,  spouse, both of us', the entry circles are all blank, even tho I had checked the 'both of us' circle. Repeated edits of this section produced the same  results: the interest income from the LLC partnership does not show up in the income section of my return.
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Level 7

Problem filling out section for K1 interest income from LLC partnership

Interest Income reported on Schedule K-1 will appear on Line 8a of Form 1040 of your personal tax return. If you have over $1500 in dividends and interest, you may also have Schedule B and the interest income from Schedule K-1 will go there first.

To preview your 1040 online, go to My Account at the top. Then click on Tools, followed by View Tax Summary. Look for "Preview My 1040" at the top of the tax summary. Interest income is on Line 8a "Taxable Interest".

The radio buttons for "who is this income for" will reset each time you view the related screen. Your previous answer has been saved, but it's not displayed.




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Highlighted
Level 7

Problem filling out section for K1 interest income from LLC partnership

Interest Income reported on Schedule K-1 will appear on Line 8a of Form 1040 of your personal tax return. If you have over $1500 in dividends and interest, you may also have Schedule B and the interest income from Schedule K-1 will go there first.

To preview your 1040 online, go to My Account at the top. Then click on Tools, followed by View Tax Summary. Look for "Preview My 1040" at the top of the tax summary. Interest income is on Line 8a "Taxable Interest".

The radio buttons for "who is this income for" will reset each time you view the related screen. Your previous answer has been saved, but it's not displayed.




View solution in original post

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