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jianzhang2021
Returning Member

K1 amount entered but it showed in two different places , resulting double the gross income amount. how to fix it?

why was interest payment from K1 also automatically entered in the 1099-Int area on the form? it is duplicated .
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4 Replies

K1 amount entered but it showed in two different places , resulting double the gross income amount. how to fix it?

it is not duplicated. the k-1 form is just a form to enter numbers on. the numbers carry from the k-1 to the appropriate tax form.  for interest income on line 5 it carries to the interest income section of schedule B or line 2b of the 1040 if schedule B is not required 

jianzhang2021
Returning Member

K1 amount entered but it showed in two different places , resulting double the gross income amount. how to fix it?

thanks. but the result is twice as much of the amount shown as income so how could i fix it? the total became $ 2 but i actually earned $1. that affects the bottom line of taxable in come.

K1 amount entered but it showed in two different places , resulting double the gross income amount. how to fix it?

I am having the same problem. I only have 1 K-1 but on Schedule B Part II it is listed twice and I can not find why.  

Ol'Jer

K1 amount entered but it showed in two different places , resulting double the gross income amount. how to fix it?

I have a feeling you entered it in in 2 locations. Both through the 1099INT input here

which consequently led you to report the income here

and from here

which consequently led you to enter the interest here

 

Check both places and see if you can eliminate the interest input from one of them

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