K-1 14H

Forum|Forum|3 months ago
March 25, 2026
2 replies
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My K-1 shows 87K as other income on line 5, and -87K as adjustment on 14H. That shows up properly on form 8960. However, the 87K shows up again on my 1040 line 8 as other income, without the adjustment. How do I correct this?

Hi Palms

Level 7

The 87k is other income no subject to self-employment tax and goes on the line assinged to it by TurboTax. The adjustment on 14H is just that.....an adjustment and does not offset the $87k in other income.

PatriciaV

Level 15

The IRS Instructions for Schedule K-1 (Form 1041) Box 5 Other Portfolio and Nonbusiness income indicate this is income that isn't subject to the passive activity rules. It also includes income in respect of a decedent (IRD), which isn't included in box 1, 2a, 3, 4a, 6, 7, or 8. In other words, this is taxable income to the recipient.

As Hi Palms mentioned earlier, Box 14 Code H reports adjustments to Net Investment Income Tax, reported on Form 8960. This adjustment may or may not be used in calculating your taxable income. See this IRS link for more info: Find out if Net Investment Income Tax applies to you.

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