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...
