PatriciaV
Expert Alumni

Get your taxes done using TurboTax

According to the instructions for Box 11 Code ZZ that came with your K-1, you do not need to enter anything for this box. Instead, follow these instructions:

 

1. Substitute Payments in Lieu of Dividends are reported as Other Income. You can enter this as Miscellaneous Income under the Less Common Income topic of Wages & Income. Choose "Other reportable income" and enter a description that reflects the source (ex: K-1 Box 11 Payments in Lieu of Dividends). This income will appear on Schedule 1 Line 8.

 

2. Section 475(f) Mark to Market adjustments are reported on Form 4797 as the sale of business property held for less than a year. See this TurboTax article for the step-by-step instructions to enter this amount: How do I report my trader activity with or without Section 475(f) election in TurboTax?

 

You should be able to make these entries in any paid version of TurboTax.

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