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QSBS K-1 Box 11 Code I

Hello community, I am using the CD version of TurboTax Premier 2023 and would appreciate any step by step instructions for how to enter the following information from our K-1 to ensure that the portion of the capital gains that are subject to the Section 1202 exclusion are properly flowed through the program.  Thank you!

 

We have a K-1 that is showing (sample numbers)

- Box 9a (net long term capital gains): $25

- Box 11 Code I (Section 1202 gain (100% excludable): $8

 

In the footnotes of the K-1, the details for the 2 securities that were sold that accounted for the amounts in Box 11 Code I:

- Security 1: purchased on 9/2/2015 and sold on 4/2/2022 - net gain = $3

- Security 2: purchased on 11/10/2016 and sold on 2/10/2022 - net gain = $5

 

 

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1 Reply
PatriciaV
Employee Tax Expert

QSBS K-1 Box 11 Code I

To enter your K-1 information, follow the instructions under TurboTax Desktop here: Where do I enter a Schedule K-1 that I received?

 

The entry for Box 11 Code I requires additional calculations and perhaps entries on your tax return. See the information from the IRS here: Box 11. Other Income (Loss). You may wish to contact the entity that sent you Schedule K-1 for assistance. 

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