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
- 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
- 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
- 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?
