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posted Apr 11, 2025 5:42:02 PM

Schedule K-1 11S STCG and LTCG reporting

I have a final schedule K-1 with box L showing Box 11.ZZ amount + STCG + LTCG - Investment interest expense

Box 11.S is set STCG + LTCG.

Box 11.ZZ is DIVIDEND INCOME + INTEREST INCOME - MANAGEMENT FEES - OTHER DEDUCTIONS + OTHER INCOME

  1. I am unable to enter STCG & LTCG separately when I enter K-1 information. If I select "Complete Disposition" option for liquidation, I get a screen with 2 columns "Regula Gain or Loss" and "AMT Gain or Loss" but the entries do not allow for separate entries of ordinary income, qualified dividends, STCG or LTCG
  2. When I enter Box 13 amount which I expect to be fully deductible, Turbo tax lowers the tax by a very tiny amount. I am guessing this is happening because TT is ignoring Box 11.ZZ and STCG which get offset by Box 13's deductions
  3. A significant portion of my dividends is qualified and I have section 1250 gain, 897 LTCG etc. listed in the footnotes which I am unable to enter

Is my tax situation covered by Turbo Tax? if so, how do I get to the correct screens for entering details such as above?

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1 Replies
Level 10
Dec 29, 2025 8:44:13 AM

Most folks with these kinds of complicated returns prefer using TT Desktop because you can switch back and forth between the interview mode and forms mode. I find it essential to be able to see the forms and worksheets to understand what TT is doing and verify that both 1) it is correct and 2) I have entered what I need to in the proper manner to get the correct result. #2 is often not obvious. 

 

I would have to look into the code ZZ and Box 13 stuff. But here is how the Box 11 code S stuff works. Box 13 is very similar. 

 

For many of the K-1 boxes, in forms mode, there is a click box to "quickzoom" to a worksheet to enter the details in a way that TT can make use of. Presumably, this can get entered somewhere in the interview, but I find it very difficult to use the interview for this kind of thing.

 

Below is an example of entering a box 11 code S in the worksheet with $25k STCG and $75k LTCG. In forms mode, you can easily verify that they flow to an 8949 and then to Schedule D.

 

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