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rharri99
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

 
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Accepted Solutions
MichaelDC
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

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.




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8 Replies
MichaelDC
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

Is this K-1 from a Partnership?
rharri99
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

Yes, a Partnership (CODI).
MichaelDC
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

Thanks. Let me know if you need help with the answer.
rharri99
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

Yes, why does the amount not transfer from the TT K-1 section to the 1040 Line 21?
rharri99
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

The 15 amount is on the K1P Line 7 stating it is from box 11, code F.  But, it does not transfer to the  1040 Line 21.
rharri99
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

Correction - I found another place on the K1P where to enter the 15 amount which DOES carry it to the 1040.  Thanks for your help!
MichaelDC
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

Nice catch! Good luck!
MichaelDC
New Member

Should the amount (15) on my K-1 Box 11 Code "F" be posted to 1040 Line 21? TT Deluxe has Line 21 blank even though the 15 amount was entered in the K-1 section of TT.

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.




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