I have a K-1 that reports long term capital gains. Turbotax premium reports this on line 7 as part of my regular income, but I think it should be taxed at lower rate.

How can I adjust how TT reports this income?

posted

Long-term capital gains are correctly reported on line 7 of Form 1040.

Rest assured that TurboTax knows that they are long-term and will calculate taxes correctly, at the lower rate.

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Do you have an Intuit account?