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Where to report "Other Income" from a K-1

I have "Other Income" reported to me on box 11, code I of a K-1.  The description on the k-1 for this Other Income on box 11I is "Other Income".   Where on my 1040 so I report this?

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Accepted Solutions

Where to report "Other Income" from a K-1

Your partnership should have supplied the details needed.  I would consider calling them up and asking them how to report it.

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4 Replies
JamesG1
Expert Alumni

Where to report "Other Income" from a K-1

IRS Partners Instructions for Schedule K-1 Form 1065 (page 11) reports a variety of other income items under Code I.

 

Are there any instructions, attachments or statements that accompany the K-1?

 

@MAC18 

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Where to report "Other Income" from a K-1

No. There is a footnote to the box 11, code I amount.  It describes the amount as "Other Income". That is the only description of this item on the k-1.  Do you know where I should put it on my 1040?

 

ThomasM125
Expert Alumni

Where to report "Other Income" from a K-1

Without knowing what the income was from, it would be difficult to say where to report it on your tax return. However, you could report it as Other Income by following these steps in TurboTax and it will be added to your income and be taxed as ordinary income:

 

  1. Choose the Federal option on your left menu bar
  2. Choose Wages & Income
  3. Find Less Common Income
  4. Choose Miscellaneous Income, 1099-A, 1099-C
  5. Choose Other reportable income
  6. Answer Yes to the question Any Other Taxable Income?
  7. Enter a description and amount of the income
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Where to report "Other Income" from a K-1

Your partnership should have supplied the details needed.  I would consider calling them up and asking them how to report it.

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