Get your taxes done using TurboTax
Thank you for responding. This K-1 is for an LLC - I am using TT Premier to do our taxes. I am pasting the QUESTION screen from Turbo Tax and a MOCK UP of the Statement A here in hopes of clarifying my question/concerning. I am using fictitious numbers in only the fields I am questioning for illustrative purposes.
The instructions on the TT Premier screen state I should be able to use my Statement A. That is straight forward until the 4th line which asks for Other Income(loss); The Statement A (which was produced by TT Business) shows 2 numbers : 1111 and 2222.
I'm thinking it wants 1111 OR to be left blank. But I don't know why there are 2 numbers for that line on the Statement A which is causing my confusion.
FYI - My husband and I own the LLC 50% each. This is for (1) of the partners and then I will also fill out this screen for the other partner. Also -
The box 3 on thr k-1 has no number in it and States "Only net rental income(loss)"
I appreciate any and all help - this is the last thing I need to fix before we can e-file. I'm just unsure what to put for that 4th box on the Turbo Tax screen.
Thanks!
