- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I manually entered my K-1 - no option to download. However, I did find an answer in the community. Apparently the AE code from the software does not populate to the IRS forms correctly. I've posted the solution I found here from User "ZpTax" dated March 15, 2025.
"So, it appears that code AE isn't outside of codes listed between W and ZZ, despite of its alphabetical designation. Very confusing, Mr. IRS. I now have the amount specified in K-1 under code AE in the Additional Information Form for Sch. K-1, Box 13, line 8, Other (enter description) as "Portfolio Income (code AE)", as it is characterized in the IRS Instructions for Sch. K-1. I did receive the instructions from the fund owners that list code AE for Box 13, but do not state where it belongs. "
This had to be entered on the "K1P Addl Infor 1" form under "Box 13: Other Deductions", "Code W to ZZ: Other Deductions", and on "Line 8. Other *" of that section. As per the instructions above, I entered the description: Portfolio Income (Code AE) and the amount given for Code AE on my K-1. The reason I was getting the error was the total line already had the information entered. Apparently that line does not "subtotal" from the lines above.
After doing this I no longer had an error and was able to file. I agree with the other poster, I think this is a IRS form issue to begin with, but Turbo Tax needs to make sure that they are mapping everything correctly. There is no specific line for Code AE for Box 13.