How do i input info for a k-1 box 12 other deductions code S?

[JulieCo · Accepted solution]

When entering the detail for the K-1 form, there will be several screens to enter data.  Eventually, you will come to a screen where it asks if there are amounts in any boxes 4-17 and you would want to check Box 12.  The next screen should have a drop-down menu for the type of deduction code.  You will be able to select "S" and then enter the amount.   Sample screenshots are attached.

Also, please note that K-1 forms for different entities have different uses for box 12.  So, make sure that you are selecting the right type of entity in TurboTax for the K-1 form you have received.  For instance, box 12 on a Partnership/LLC K-1 form is for a Section 179 deduction and it will not have a drop-down menu.  Box 12 on a SCorp K-1 is for Other Deductions and will have a drop-down menu.  The entity form type will be noted in the upper left-hand corner under the words Schedule K-1.  Sample 1065 K-1 is attached.   

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