Section 988 gains from foreign currency transactions are normally treated as ordinary income. You can accomplish this treatment in TurboTax by entering the amount as "Other portfolio income (loss) to be reported on Schedule E, page 2" on the "Enter Code A Detail" screen that follows the entry of your box 11 code A amount (K-1P Addl Info Wks in Forms mode).
See this AICPA article on Section 988 gains at this link for more information about reporting Sectio....
See this link for IRC Section 988.
@CL2
[Edited 6/26/2020|11:11am PDT]
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