As you progress through the K-1 interview, there will be an option to select the boxes that you have data in. Select box 11. As you continue there will be a screen for Box 11 info. It provides for the entry of both the code and the amount.
My screen did not look like that as I entered the K-1 info. I just had boxes already labeled 11a… 11b and so on. I did not have the bottom part of the screen with the “drop down” to list “state and local taxes”…I have since submitted to the IRS so hopefully it will still be ok.
You have entered your S-Corp K-1 (Form 1120S Schedule K-1) as a K-1 from a Trust or Estate (Form 1041 Schedule K-1). You will need to amend your return to correct the entry, but you should not do this until you either see your return accepted or receive notice from the IRS that you need to amend it.
See How do I amend? if you need to amend your return.
Hi there @AliciaP1 the K-1 is in fact for a Trust. So hopefully that sounds promising? And then filed correctly?
thanks
Heather
Yes, since that makes it excess deductions for state and local taxes, you should be fine.