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Retirement tax questions
If you enter the value for 11F for your K1, in TurboTax it will create a K1P Addl Info 1 worksheet under the K1 partner form, in which you need to specify the type of income 11F represents under code F:
- Recoveries (etc) reported on 1040 line 21
- Ordinary gain/loss reported on F4797, part II
- net short term gain/loss
- net long term gain/loss
- other nonpassive income/loss reported on sch E, page 2
TurboTax will then carry it to the correct place on your return.
If using TurboTax Online, make sure to answer follow-up questions after Box 11 entry.
If still no Line 21, you can add it manually:
- Click on the Federal tab
- Click on Wages and Income
- Scroll down to Less Common Income
- Other income not already reported on a Form W-2 or Form 1099 (See the attached screenshot below. Click to enlarge.)
-
On the Other Taxable Income screen, enter a description and amount for the income.
‎June 4, 2019
2:11 PM