linduca1216
Level 7
10-02-2020
03:00 PM
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How do I enter Box 11-I from 1065 K-1? Sec 988)
Just enter directly onto "Other income" on 1040?
Thanks~
Solved! Go to Solution.
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Just-Lisa-Now-
Level 15
10-02-2020
03:15 PM
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If you use the Quickzoom button below Line 11, you'll find a list of the different types of income that can appear. Should be a page with supplemental information so you know what type of "other income" it is, you can click the yellow ? mark button, I found sec 988 in there.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Terry53029
Level 14
10-02-2020
03:16 PM
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Yes, as most gains from foreign currency transactions are taxed as ordinary income
linduca1216
Level 7
10-03-2020
10:10 AM
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Yes, but it didn't flow to any schedule... (I showed it as "other" and provide the explanation... Sec988 Gain.