Solved
Schedule K-1 Line 11 Code A
I received Schedule K-1 for an interest in a partnership. Line 11 has income listed as Code A (other portfolio income). The additional description provided by the partnership states “other miscellaneous portfolio income”. TurboTax considers this nonpassive income since I selected “other portfolio income” in the interview question. Is this always the case? Is Code A income always considered nonpassive? In what situation would it be considered passive and how would I determine this?
