Schedule K-1, Line 14, Code H is showing a negative number that offsets the amount shown in Box 5. This doesn't reduce my liability. Why?

wrightjw — Thu, 06 Jun 2019 05:29:31 GMT

"This doesn't reduce my liability." Most likely because...

Anonymous_ — Thu, 06 Jun 2019 05:29:31 GMT

"This doesn't reduce my liability."

Most likely because you are not subject to the Net Investment Income Tax (NIIT). The negative figure on Line 14 (H Code) only serves to reduce the NIIT calculation on Form 8960, otherwise it has no real impact.

See https://www.irs.gov/individuals/net-investment-income-tax

topic Schedule K-1, Line 14, Code H is showing a negative number that offsets the amount shown in Box 5. This doesn't reduce my liability. Why? in Get your taxes done using TurboTax

Schedule K-1, Line 14, Code H is showing a negative number that offsets the amount shown in Box 5. This doesn't reduce my liability. Why?

"This doesn't reduce my liability." Most likely because...