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Fgp755
New Member

Schedule K-1

I am having a problem putting in a negative number from line 14 H. Turbo Tax will not accept it and it shows up as a positive amount in my taxes and changes my refund to a tax due amount. I don't understand why it is doing this. I have tried several time for a few days now and it still does it. 

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1 Reply
PatriciaV
Employee Tax Expert

Schedule K-1

Form 1120S Schedule K-1 Line 14 Code H is for Foreign Gross Income - Other, which can be positive or negative.

 

Form 1041 Schedule K-1 Line 14 Code H is an adjustment for investment income/deduction and can be positive or negative.

 

Form 1065 Schedule K-1 Line 14 has no Code H. This line reports self-employment income.

 

Be sure you are entering the information from Schedule K-1 accurately and under the correct form source (1120S, 1041, or 1065).

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