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Get your taxes done using TurboTax
If you are using the TurboTax Desktop software and the interview isn't cooperating:
- Switch to Forms Mode: Click the Forms icon in the top right.
- Open the K-1 Worksheet: In the left sidebar, find the K-1 Partner (or K-1 S-Corp) worksheet for this entity.
- Find Box 11: Scroll down to the Box 11 section.
- The "QuickZoom": Look for a button or a line below Box 11 labeled "Other Income/Loss Worksheet" or similar. it is located right below the Box 11 amount. Select it.
- When the next screen appears, it will take you right to Code S non-portfolio gains or losses.
- Manually enter the Short-Term or Long-Term gain amounts on the specific lines provided in that supporting worksheet. This will force the flow to Schedule D.
The key here is to determine if this is a short-term or long-term gain. This should be listed on a supplemental disclosure statement that came with your K-1.
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Wednesday