Entries in K-1 not transferring over

[taxwarrior123]

Hi,

I just entered all my information on the K1. 

In Box 11, I have a  NONPORTFOLIO SHORT-TERM CAPITAL GAIN (LOSS) reported with Code S.

The net loss I enter here does not show up in the capital gain losses. This is supposed to directly transfer over as a capital gain loss according to IRS.

Is this feature not supported in TurboTax Premier 2024?

How do I work around this if this is an issue?

Thank you!

[taxwarrior123]

I checked that this should in fact be shown on Schedule D. But Turbotax is not carrying this over from the K-1. Would love to know if others have the same problem (I'm seeing reports in previous years of issues, not sure about 2024).

This is what is supposed to happen per IRS.

Code S. Non-portfolio capital gain (loss).

Net short-term capital gain (loss) and net long-term capital gain (loss) from Schedule D (Form 1065) that aren’t portfolio income. An example is gain or loss from the disposition of nondepreciable personal property used in a trade or business activity of the partnership. Report total net short-term gain (loss) on Schedule D (Form 1040), line 5. Report the total net long-term gain (loss) on Schedule D (Form 1040), line 12.

[JamesG1]

In TurboTax Premium Online, I am able to report Box 11 non-portfolio capital gain/loss.

Have you identified the net short-term / net long-term amounts of the gain/loss?

[taxwarrior123]

Thank you. I use the Desktop Premier version, and the data does not seem to transfer over for sure. Yes - I checked the short and long term gain(loss) and the loss is not being recognized.

I tried even creating a dummy return with just a few entries and can see that this is not taking effect.

[Mike9241]

did you import the K-1 info? if so, it might be corrupted. You'll need to remove the imported data through the file tab and enter it manually. 

[jack19]

paid  good money  for  good software    !!!! why  not is it  not  carring over

[musiclover]

@Mike9241 @JamesG1 

Were we able to resolve this? 

On Turbotax Desktop Premier 2025, box 11 code S entries for my K-1 are going to Schedule D, line 3 instead of line 5. This is incorrect per IRS instructions:

---

---

"Code S. Non-portfolio capital gain (loss).

The partnership will provide information on net short-term capital gain (loss) and net long-term capital gain (loss) from Schedule D (Form 1065) that aren’t portfolio income. An example is gain or loss from the disposition of nondepreciable personal property used in a trade or business activity of the partnership. Report total net short-term gain (loss) on Schedule D (Form 1040), line 5. Report the total net long-term gain (loss) on Schedule D (Form 1040), line 12."

https://www.irs.gov/instructions/i1065sk1#en_US_2025_publink[phone number removed]

cc: @taxwarrior123 @jack19 

[DaveF1006]

While Intuit often releases "maintenance patches" during the peak of tax season to fix form mapping errors, here is how you can resolve this manually in the Desktop version if the automated calculation is struggling. Here are some things to check.

In TurboTax Desktop, the mapping usually depends on the QuickZoom feature or the supplemental data sheets.

1. Go to Forms Mode (click the "Forms" icon in the top right). 
2. Open the K-1 Partner (or S-Corp) Worksheet for the specific entity.
3. Scroll down to the Box 11 section.
4. Ensure that the amount is specifically categorized as Short-Term in the supporting sub-sections. Sometimes, if it's entered as a generic "gain," the software defaults to the standard gain line (Line 3) instead of the flow-through line (Line 5).

The "Direct Entry" Fix (Forms Mode)

1. If the K-1 worksheet looks correct but the Schedule D is still pulling to the wrong line:
2. In Forms Mode, open Schedule D.
3. Click on Line 5. If the field is highlighted in blue, it is a calculated field.
4. Right-click the field and select "Data Source." This will show you exactly which worksheet is feeding that line.
5. If it is pulling from the wrong place, you may need to delete the entry in the Box 11 interview and re-enter it, ensuring you select the specific "Short-Term Capital Gain" description from the dropdown menu.

Verify the "Type" of Activity

1. Sometimes Code S mapping is influenced by whether the activity is marked as Passive or Non-Passive.
2. If the partnership activity is marked as "Passive," TurboTax may route it through Form 8582 (Passive Activity Loss Limitations) first.
3. Check the K-1 entry interview and ensure you haven't accidentally checked a box indicating this is "Portfolio Income," as Code S is explicitly non-portfolio.

If the software continues to hard-code it to Line 3 despite correct inputs, you can use a "Manual Override" (Right-click > Override), though this is a last resort as it will prevent you from e-filing.

@musiclover