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K-1 showing on interest

Why is the K-1 income showing under the "interest on 1099-INT" section for the wages & income summary?
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1 Reply
MiriamF
Intuit Alumni

K-1 showing on interest

The income reported on a K-1 is taxed according to the type of income reported:

  • Rental income on a K-1 gets reported on Schedule E.
  • Interest income on a K-1 gets reported on Schedule B.
  • Capital gains on a K-1get reported on Schedule D.

The program is correct in including the interest income with other interest reported on a 1099-INT.

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