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New Member
posted Oct 12, 2019 3:59:16 PM

Where do I enter a K-1 gain on distribution

I have a K-1 Gain on Distribution (excess distribution).  Where do I enter this?

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3 Replies
Level 15
Oct 12, 2019 4:02:09 PM

To enter a Schedule K-1

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Business Items (Business Investment and Estate/Trust Income using Home and Business)
  • On Schedule K-1, click on the start or update button

Or enter k-1 in the Search box located in the upper right of the program screen. Click on Jump to k-1

New Member
Oct 12, 2019 4:15:59 PM

I'm sorry, I should have been more clear.  I have entered all of my K-1 information already, but I found out today that since I have received distributions in excess of my stock basis that I have a capital gain to report.  But I can't figure out where to enter that?

Level 13
Oct 13, 2019 6:06:16 AM

Distributions in excess of basis are capital gains.  You would report this as if you sold sold, so the information goes on form 8949 which will then go on Schedule D.  

 

Assuming you purchased the stock all at the same time, just enter the date purchased.