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Where to enter Qualified Small Business Stock (box 11H) from a partnership return?

 
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0 Cheers
3 Replies 3
Level 15
Box 11 H or is it maybe I?

ex-AllStar
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Level 15

When all else fails, read the partner instructions that should be with the K-1  https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf


ex-AllStar

My notes for Lacerte, which works similarly, say:

Can't be handled in K-1 input screen. Have to set up as Sch D entry and back out of K-1. We get 1202 treatment only if we owned the partnership at the time it invested in the QSBS, and the partnership held it 5 years. We bought this Date1. No 1202 treatment prior to Date2! For Date3 all the 1202 stock gets better treatment. Post 9/27/2010 amounts get 100% exclusion. Reduce K-1 LTCG, increase TE income or make an entry in Other Increases to Basis.