Collectibles (28%) gain

[MAC18]

I have a Collectibles gain reported to me on box 9b of form k-1.  I entered this number into TurboTax during the k-1 process.  The number did not end up going to line 18 of schedule D or to the schedule D worksheet.  How do I get the Collectibles gain to be included in my capital gain income on Schedule D?  It does not appear anywhere on my tax return.

[ThomasM125]

You enter investment sales in the Wages and Income section of TurboTax, then Investment Income, then Stocks, cryptocurrency, Mutual Funds, Bonds, etc... Skip the section where it asks if you want to upload your tax documents. Choose Other for the type of investment sold. You will come to a screen where you can enter your sales and cost basis. Choose Collectible for the type of investment sold.

[MAC18]

The Collectibles income comes from box 9b of a k-1.  I entered it when inputting my k-1 numbers.  I see it in the k-1 worksheet but the number does not flow to schedule D or to the 28& rate gain worksheet.  How do I get it to do this?

[PatriciaV]

If your K-1 Box 9b entry is not shown on the 28% Rate Gain Worksheet, you may try deleting the amount from the K-1 then re-entering it. Or delete the K-1 entirely and re-enter.

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[MAC18]

I did try deleting the k-1 and re-entering all the numbers.  The collectibles gain is still not showing up on schedule D or the schedule D worksheet.  Again, I do see it in the k-1 worksheet in TurboTax but it does not seem to flow to where it is supposed to go.

[DaveF1006]

Here some things to check or consider.

1. Check the Part II, Line 11 (K-1 Entry)

1. In the K-1 entry section for a Partnership (1065) or S-Corp (1120-S), look specifically at Box 9b (for 1065) or Box 8b (for 1120-S). 
2. Ensure the amount is entered as a positive number. 
3. The "Double Entry": Sometimes TurboTax requires you to click through several "Describe the Partnership" or "Special Handling" screens after the main box entry. If you skip these, the software may not "finalize" the link to Schedule D.

2. The "Passive Activity" Trap

1. If this K-1 is from a Passive Activity (you aren't involved in the day-to-day operations) and you have a net loss elsewhere in your K-1s, the software might be "suspending" your gains and losses due to Form 8582 (Passive Activity Loss Limitations).
2. Check this: Look at Form 8582. If your K-1 gain is being offset by other passive losses, it won't show up on Schedule D until those losses are cleared.

3. Look for the "Schedule D Tax Worksheet" (Not just Schedule D)

1. Collectibles don't always change the total on Schedule D, Line 13, immediately in the way you'd expect. Instead, they are often tracked on the 28% Rate Gain Worksheet.
2. In TurboTax, go to Forms Mode (top right on Desktop) or "Print/Download all forms and worksheets" (Online).
3. Search for the 28% Rate Gain Worksheet if it is there. If the numbers are there, they will eventually flow to the Schedule D Tax Worksheet (which is a multi-page document used to calculate the actual tax, rather than the "Schedule D" form itself.