You'll need to sign in or create an account to connect with an expert.
"Should generate form 8960, but doesn't?"
Line 14 (H Code) of Schedule K-1 (1041) is simply a negative adjustment to Form 8960.
The TurboTax program (automatically) generates Form 8960 only when that form needs to be filed. Form 8960 only needs to be filed if your modified adjusted gross income (MAGI) is greater than the applicable threshold amount.
See https://www.irs.gov/instructions/i8960#idm140602295322704
"Should generate form 8960, but doesn't?"
Line 14 (H Code) of Schedule K-1 (1041) is simply a negative adjustment to Form 8960.
The TurboTax program (automatically) generates Form 8960 only when that form needs to be filed. Form 8960 only needs to be filed if your modified adjusted gross income (MAGI) is greater than the applicable threshold amount.
See https://www.irs.gov/instructions/i8960#idm140602295322704
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
likungchuen
New Member
lisamatteen-gmai
Level 2
razor5
Level 3
spearmichael1
New Member
abachmuth
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.