Section 951a income

[dfortney]

I have partnership income reported on Schedule K-1 (Form 1065), Line 11, Code F  (Section 951A Income). I entered the amount in TurboTax. Partner's Instructions for Schedule K-1 (Form 1065) say this amount should be entered on Line 21 of Schedule 1 (Form 1040), but TurboTax is not doing that. Why is TurboTax not following those instructions?

[Anonymous]

see that little asterisk.  it means TT can deal with it so you'll have to,  in forms mode go to schedule 1. go to line 21 click on it and an icon should appear click on it and eventually an "other income statement" should appear  - go down to line 21 and enter description an amount 

[dfortney]

Where do you see the little asterisk? I went back to the screen where I entered the information, and there is no asterisk <a rel="nofollow" target="_blank" href="http://prntscr.com/nh0aij">http://prntscr.com/nh0aij</a> -

And does the asterisk (once I locate it) mean that TT can NOT deal with it?

Thanks

p.s. I am trying to use Turbo Tax for the first time in some years. The last time I tried it failed to handle some investment situations, and so I continued to use an accountant. I was hoping that in the intervening years, the product would have progressed to the point to handle my taxes.

[tagteam · Accepted solution]

" And does the asterisk (once I locate it) mean that TT can NOT deal with it?"

Yes, it means that TT cannot deal with that particular income item (see screenshot).

From your profile, it appears as if you are using TT Online Premier so you don't have Forms Mode available. If that is the case simply enter the figure from 11(F) as miscellaneous income. 

In Premier, navigate to Federal>>Wages & Income and then scroll down to Less Common Income. Expand that section and scroll down to Miscellaneous Income, 1099-A, 1099-C and hit the Start (or Update) button. From that point, click the Start button to the right of Other reportable income.

[dfortney]

Thank you. It appears that if I pivot to TurboTax I should use the download version, as I'll need the asterisk to be quite visible and the ability to just directly enter for things that TurboTax doesn't handle. They aren't letting me try the download version without first purchasing it, and I'm reticent to pay before knowing whether the program can handle my taxes.

[tagteam]

You can check the calculations and forms that are not supported by TurboTax at the link below.

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1901702-are-there-any-personal-individual-tax-situations-or-calcul...>

Note that Intuit offers a 60-day satisfaction guarantee so there is not much risk in purchasing the download version.