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1065 K-1, Part III, Box 11 I Other income

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Level 4

How do I enter Box 11-I from 1065 K-1?  Sec 988)

Just enter directly onto "Other income" on 1040?

Thanks~

 

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Level 11
Level 11

Yes, as most gains from foreign currency transactions are taxed as ordinary income 

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Level 15
Level 15

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♥¸¸.•*¨*•♫♪
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Level 4

Yes, but it didn't flow to any schedule... (I showed it as "other" and provide the explanation... Sec988 Gain.   

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Level 11
Level 11

Yes, as most gains from foreign currency transactions are taxed as ordinary income 

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