Get your taxes done using TurboTax

Yes, enter the information for Form 1120S Schedule K-1 Box 17 Code I as it appears, including the amount of interest due. On the next screen, TurboTax will provide generic instructions on how to enter Code I, which is essentially following whatever guidance is provided with your K-1.

To report the results from Form 8697 on Schedule 2 (Form 1040) Line 17(n):

1. In TurboTax, search for "Other Taxes." 
2. Enter the look back interest from Form 8697.
3. This amount will be transferred to Schedule 2 Line 17(n) and included on Form 1040 Line 23 "Other Taxes."

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