Hello,
In the Turbotax interview for Schedules K-1 1065, on the page "Enter Box 20 Info", I have entered the amounts for Box 20AE - Excess Taxable income for 3 different MLPs in which I have invested in 2020 (and disposed of also in 2020).
The amounts for Box 20AE I have on my K-1s are pretty small for each MLP:
MLP#1: 4$
MLP#2: 17$
MLP#3: 4$
However, in my final tax return, I don't see where these numbers are used by TurboTax. I thought that Excess Taxable income was reported on Form 8090 but TT did not generate such a form. Is this normal?
Do I need to pay taxes on Excess Taxable income and should it be reported somewhere in my final TT tax return?
Thank you for your help!
