I received a K-1 form from my grandmother's estate. In box 5 there is an amount for other portfolio and nonbusiness income. Then in box 14 - Other information - there is the letter H with this same amount as a negative. When I fill out my K-1 information in turbo tax, it seems that I'm being taxed on the amount in box 5, but it isn't factoring the offsetting negative amount in box 14. As these amounts offset, I was thinking there wouldn't be an impact on my income taxes.
