Schedule K-1 Box 13 tax credit is not showing up in my 1040 at all. Should I expect a tax credit for the same amount in 1040? How can I address this?

[linyazhan]

Thanks!

[PatriciaV]

It depends on the type of credit reported on Schedule K-1 Box 13. 

The IRS Instructions for Form 1120S Schedule K-1 Box 13 state: If you have credits that are passive activity credits to you, you must complete Form 8582-CR in addition to the credit forms identified below...In general, shareholders whose only sources for a credit listed in Form 3800, General Business Credit, Part III, are partnerships, S corporations, estates, trusts, and cooperatives, aren't required to complete the applicable credit form or attach it to their return. Instead, they can report the credit amounts reported to them by these pass-through entities directly in Form 3800, Part III, and enter the EIN of the entity in column (c) of Part III. 

It's possible that certain limits have suspended the credit from Box 13. You would need to review the two forms listed above (Form 8582-CR and Form 3800) to see how the credit from Box 13 has been used on your return.

To preview the forms in your TurboTax Online return, see How do I preview my TurboTax Online return before filing? If you're using TurboTax for Desktop, use Forms Mode.