How do I get my S-Corp K-1 Box 10 code E to flow to Schedule D, Part II Line 12? This gain needs to show up on line 12 and not on Line 10.

maxinedwood · ‎June 3, 2019

I sold my S-Corp in a varied part transaction. I am certain that Code E on my K-1 is meant to flow to line 12 Net long term gain from S-Corporation from Schedule K-1 (the corporate tax accountant confirmed it). But every entry I put in TurboTax puts it on Form 8949 and Schedule D Part II line 10.

maxinedwood · ‎June 3, 2019

I am entering the total in TurboTax as Long-Term Capital Gain not Portfolio Income

IreneS · ‎June 3, 2019

According to the instructions for the 1120S K-1, it is Box 8a on the K-1 that should flow to Schedule D, line 12.

Box 8a. Net Long-Term Capital Gain (Loss) Report the net long-term capital gain (loss) on Schedule D (Form 1040), line 12.

Box 10, Code E should flow to line 10 of Schedule D.

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How do I get my S-Corp K-1 Box 10 code E to flow to Schedule D, Part II Line 12? This gain needs to show up on line 12 and not on Line 10.

Business & farm

Business & farm