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New Member
posted Sep 16, 2022 6:29:43 AM

On my K-1 I have a $472 gain on excess distribution found in Box 17 detail under Code AD. TurboTax doesn't have a category for this. Where is it picked up?

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1 Best answer
Level 15
Sep 16, 2022 6:53:04 AM
2 Replies
Level 15
Sep 16, 2022 6:53:04 AM
Level 15
Sep 16, 2022 9:57:31 AM

The issue that we can't answer is if this amount has been included on another line of the k-1 and this is just for informational purposes. 

call the S-corp.

or if you know your basis at the beginning of the year add the items of income, subtract the deductions and distributions. ignore the amount on line 17 code AD and other amounts that don't affect tax basis like 199A info.  if you end up with a negative $472 then it likely hasn't been entered on another line. if you end up with zero it likely has,