form K-1, line 11, code D

Forum|Forum|4 years ago
March 10, 2022
2 replies
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AliciaP1

Level 13

Can you clarify what help you need with this line?

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mybill333Author

Level 2

yes, want to know if turbo tax is correct in transferring the same form K-1 number in line 11, code D onto line 12 and line 14 on schedule D, long term capital gain? Seems to have doubled the form K-1 number. Form K-1 from a 2021, 1041 return.

mybill333Author

Level 2

received a K-1 form (from a 1041 return) with an loss entry in line 11, code D. Turbo tax transferred this form K-1 entry onto schedule D, long term capital loss in line 12 AND again the same number in line 14. Is this correct?

JulieS

Level 15

No, that is not correct. The number is a long term capital loss carryover and it should go to line 12 on Schedule D.

It shouldn't also go to line 14, which is your long term capital loss from your worksheet. I tested this in TurboTax and the number only carried to line 12 for me. Did you have a capital loss carryover before you added this K-1?

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mybill333Author

Level 2

Thank you for your response and test.

This is the first capital gain loss and the first time I received a K-1 form. the number is exactly the same on both schedule D line 12 and 14. Where did I go wrong in the turbo tax interview questions that made turbo tax enter the same number from K-1 to both line 12 and 14?