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In the CD/Download versions of TurboTax you can indicate that income on the K-1 is from U.S. Government obligations by following these steps:
Schedule K-1 (Partnership)
In the CD/Download versions of TurboTax you can indicate that income on the K-1 is from U.S. Government obligations by following these steps:
Schedule K-1 (Partnership)
Hello,
I've entered the total interest in K-1 box 5 plus the amount associated with US government interest below box 5. I was expecting to see the US interest flow thru to Form 1040 box 2a (tax-exempt interest) but it did not. Is there somewhere else that needs to be populated in order for TT to recognize it should be tax exempt? Perhaps in schedule B, line 3?
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