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Entering Partnership Schedule K-1 Line/Box 13 Code R in the Individual Module

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Entering Partnership Schedule K-1 Line/Box 13 Code R in the Individual Module

Where do I enter Line 13, code R, from passthrough Partnership K-1 in the Individual module?

How do I report Line 13, code R, on an Individual return?

Solution:

Code R- Pensions and IRAs - Payments made on the taxpayer's behalf to an IRA, qualified plan, simplified employee pension (SEP), or a SIMPLE IRA plan. See Form 1040 instructions for line 32 to figure your IRA deduction. Enter payments made to a qualified plan, SEP, or SIMPLE IRA plan on Form 1040, line 28. If the payments to a qualified plan were to a defined benefit plan, the partnership should give you a statement showing the amount of the benefit accrued for the current tax year.
Solution #1 - To enter line 13, code R - for an IRA:
  1. Go to Screen 24, Adjustments to Income.
  2. Locate the Traditional IRA section.
  3. Enter the amount or a 1 in IRA contributions (1 = maximum deduction).
Solution #2 - To enter line 13, code R - for Qualified Plans:
  1. Go to Screen 24, Adjustments to Income.
  2. Scroll down to the SEP, SIMPLE, Qualified Plans section.
  3. Enter an amount or a 1 in Profit-sharing (25%/1.25) (1 = maximum). (if applicable)
  4. Enter an amount or a 1 in Money purchase (25%/1.25) (1 = maximum). (if applicable)

Solution #3 - To enter line 13, code R - for SEP:

  1. Go to Screen 24, Adjustments to Income.
  2. Scroll down to the SEP, SIMPLE, Qualified Plans section.
  3. Enter an amount or a 1 in Self-employed SEP (25%/1.25) (1 = maximum).

Solution #4 - To enter line 13, code R - for SIMPLE:

  1. Go to Screen 24, Adjustments to Income.
  2. Scroll down to the SEP, SIMPLE, Qualified Plans section.
  3. Locate the SIMPLE subsection.
  4. Enter an amount or a 1 in Self-employed SIMPLE (1 = maximum).

Solution #5 - To enter line 13, code R - for a Defined Benefit Plan:

  1. Go to Screen 24, Adjustments to Income.
  2. Scroll down to the SEP, SIMPLE, Qualified Plans section.
  3. Enter the amount in Defined benefit (no limitations).

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