topic How can I complete form 4797 showing loss from form K-1 box 10. IRS states to enter property description and write From Schedule K-1 in boxes 2b-2f. Amount will go in g in Business & farm

How can I complete form 4797 showing loss from form K-1 box 10. IRS states to enter property description and write From Schedule K-1 in boxes 2b-2f. Amount will go in g

dawalt2002 — Tue, 04 Jun 2019 21:45:22 GMT

The best solution is to upgrade TurboTax Premier. The Tur...

Phillip1 — Tue, 04 Jun 2019 21:45:23 GMT

The best solution is to upgrade TurboTax Premier. The TurboTax Premier K-1 section will report K-1 income in the proper section.

It depends on whether the K-1 is from a Form 1041, 1065, or a Form 1120S.

The K-1 is from form 1065. I do have the Home and Busine...

dawalt2002 — Tue, 04 Jun 2019 21:45:24 GMT

The K-1 is from form 1065. I do have the Home and Business version so I think I have the correct version, or at least a version "better" than premier. There is no option for this the amount on line 10 to be transferred to a form 4797 and thus appear on my 1040.

Line 10 for a 1065 Schedule K-1 is for Section 1231 Gains...

Phillip1 — Tue, 04 Jun 2019 21:45:26 GMT

Line 10 for a 1065 Schedule K-1 is for Section 1231 Gains. After you enter the amount in the TurboTax K-1 section, switch to Forms mode and look on line 2 of Part I of Form 4797. There should be an entry for "From K-1"

Thanks for your response. This amount is not showing up...

dawalt2002 — Tue, 04 Jun 2019 21:45:27 GMT

Thanks for your response. This amount is not showing up on Form 4797, line 2 which is what I would have expected. I did enter all of the information correctly from the 1065 K-1 form. Any other thoughts?

If this was a loss and you did not indicate that you are...

Phillip1 — Tue, 04 Jun 2019 21:45:29 GMT

If this was a loss and you did not indicate that you are a material participant, the loss would be treated as a passive loss that is (suspended on Form 8582) not deductible on your return. In this situation Form 4797 is not generated. If you are not a material participant, this is likely the issue. If you are material, the box may not have been checked.

Thank you again. The material participant box is checke...

dawalt2002 — Tue, 04 Jun 2019 21:45:30 GMT

Thank you again. The material participant box is checked. Still unsure as to why this wouldn't be populating. I do understand that it would be a passive loss if not checked. Just frustrated as to why this is not populating. Again, thanks for your help.

The only other thing I can think of is if the partnership...

Phillip1 — Tue, 04 Jun 2019 21:45:31 GMT

The only other thing I can think of is if the partnership is showing not at risk. Check the TurboTax Form K-1 in Part II line K. If that is not it, I am stumped.

Again, thanks. I did check and it is marked as all at ri...

dawalt2002 — Tue, 04 Jun 2019 21:45:33 GMT

Again, thanks. I did check and it is marked as all at risk. Stumped as well. Thanks again.