form K-1, line 11, code D

[AliciaP1]

Can you clarify what help you need with this line?

[mybill333]

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?

[mybill333]

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.

[JulieS]

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?

[mybill333]

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?

[AliciaP1]

It would be helpful to have a TurboTax ".tax2021" file that is experiencing this issue.

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

Go to the black panel on the left side of your program and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
5. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@mybill333