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Business & farm
I have this same question. My form 1065-B only has amounts in box 3 "Qualified dividends and box 4b "Net capital gain (loss) from other activities" (the amount is a loss). There's also foreign tax credit info in box 9 K2-8 but the Total foreign taxes paid in K8(A) is only $3.
The instructions say the Box 3 Qualified Dividends amount is reported on Form 1040 lines 9a&b. Should I enter that in the TurboTax Schedule B "Dividend Income Smart Worksheet" or should I create a dummy 1099-DIV for this in TurboTax?
The instructions say the Box 4b "Net capital gain (loss) from other activities" amount should be entered on Schedule D line 12. That line is "Net long-term gain or loss ... from Schedule(s) K-1", but TurboTax will not let me enter a value directly on that line. What do I do? Do I need to create some other K-1 in TurboTax? If so, how do the lines from Form 1065 map to Form 1065-B?
Hoping for help here... I wish TurboTax handled this. BTW, I have TurboTax Home & Business.
Thanks...
The instructions say the Box 3 Qualified Dividends amount is reported on Form 1040 lines 9a&b. Should I enter that in the TurboTax Schedule B "Dividend Income Smart Worksheet" or should I create a dummy 1099-DIV for this in TurboTax?
The instructions say the Box 4b "Net capital gain (loss) from other activities" amount should be entered on Schedule D line 12. That line is "Net long-term gain or loss ... from Schedule(s) K-1", but TurboTax will not let me enter a value directly on that line. What do I do? Do I need to create some other K-1 in TurboTax? If so, how do the lines from Form 1065 map to Form 1065-B?
Hoping for help here... I wish TurboTax handled this. BTW, I have TurboTax Home & Business.
Thanks...
‎June 4, 2019
12:26 PM