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Received 1099C for Cancellation of Debt
I have a farm that operates as an LLC partnership. I use TurboTax Business for the form 1065. I indicated that I received Cancellation of Debt not related to PPP then continued through the walk through. I was never asked about the cancellation so it doesn't appear anywhere on the Schedule K-1. It should populate line 11 with a code E for each partner's portion of the cancellation. I have tried to enter the amount in Other Income sections but it doesn't appear on Line 11.
How do I get this into the form?
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March 3, 2024
11:51 AM