How do I generate a grantor information statement based on the K1 I received

The K1 I received has ordinary dividends, qualified dividends, and net short term capital gain,

The first question is that shall I create one entry for ordinary dividends, and another for qualified diviends, or simple treat them as one since it refers to the same income.

Second is on the K1, in the section 14 Other information, has entry H: adjustment for section 1411 net investment income or deductions. It has big negative number in this entry H under section 14 but it did not match the income number. I have no idea how to intrepret that.

809

Level 15

Mar 27, 2024 10:29:10 AM

@ZengFreeman wrote:

The K1 I received has ordinary dividends, qualified dividends, and net short term capital gain...

You do not need to create a second K-1 in TurboTax for those items of income. Enter the figures as requested during the interview.

@ZengFreeman wrote:
Second is on the K1, in the section 14 Other information, has entry H: adjustment for section 1411 net investment income or deductions.

The 14H is simply an adjustment for the Net Investment Income Tax which you may not even be subject to, so simply enter that figure into the program.

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How do I generate a grantor information statement based on the K1 I received