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Business & farm
Does my K-1 gross income include tax-exempt interest reported on line 14 code A?
Just to be clearer, my K-1 form 1041 only has entries for:
2a (ordinary dividends),
2b (qualified dividends),
14 code A (tax-exempt interest),
14 code B (foreign tax credit)
When TT asks me to enter, "Gross Income Sourced at Beneficiary Level: US Sourced Income", does that include my 14A tax-exempt interest? Thus 2a plus14A values or just 2a (ordinary div) ?
March 27, 2023
10:48 AM