topic I completed Form 8990 outside of the software. Now what?!? in Deductions & credits

I completed Form 8990 outside of the software. Now what?!?

melknight97 — Thu, 30 Jul 2020 19:03:37 GMT

I went through all of the steps (I hope properly) and filled out the form and I get a number at the end. But it doesn't say if that number should go on the 1040 anywhere. The company (partnership) is going private so they've pushed it down to the partners. I don't think there is any carryforward. What do I do with this $1k number I've come down to on line 30? The instructions don't reference anything.

Re: I completed Form 8990 outside of the software. Now what?!?

Carl — Fri, 31 Jul 2020 00:17:08 GMT

It depends on specifics you didn't provide, and providing them here may not be easy to do. I pulled up the instructions at https://www.irs.gov/pub/irs-pdf/i8990.pdf and did a search for "sch" and got 14 hits. Nothing from the 8990 is entered directly on the 1040. But it gets entered on a Schedule that is filed with the 1040. Which schedule, (SCH 1 thru 6 or A-F) depends on the details of the 8990 you completed.

So search the instructions for "sch" and check each of the 14 hits to see which (if any) apply to you and your specific situation.

Re: I completed Form 8990 outside of the software. Now what?!?

melknight97 — Fri, 31 Jul 2020 14:51:08 GMT

All 14 of the Sch searches simply point back to the Form 8990 *schedule A or B or references the Schedule K-1. On what page did you see something different?