Question on K-1 Box5

[thammondwis]

I have a schedule K-1 that I'm entering in TurboTax.  TurboTax has two fields to enter data for Box 5; "Interest Income" and "Interest from U.S. Obligations in Box 5".

On my Schedule K-1 it has an amount of $102 in Box 5.  There is also code ZZ in Box 20.  Code ZZ states "U.S. Interest (part of LN 5/6A)" with an amount of $15.

Do I enter $102 in TurboTax Box 5 for "Interest Income" and $15 in Box 5 for "Interest from U.S. Obligations in Box 5"?

[MelindaS1]

That seems like a correct treatment. After your K-1 entries, hit Forms in the upper right, and make sure your interest is pulling through as 102 in total (and not 102 + 15 =  117) on the 1040, Line 2b. 

However, all of this is assuming that there's no dividends in box 6a. In that case, it could be another treatment. Is there anything to account for in K-1 box 6a?

[thammondwis]

box 6a is $10

Box 6b is $10 

Box 6c is blank

[RobertB4444]

That means that the amount in 20 zz is referring to $10 from 6a and $5 from line 5.  So enter $102 in box 5 for interest and $5 for US obligations and you should be good to go.