Lacerte doesn't have a specific input field for Schedule K-1, line 11, code A in the Individual module. The firm that prepared the partner's K-1 should've included a description and instructions on how to report the portfolio income on the partner's individual return.
If the firm provided instructions, and the amount should be reported on Schedule 1, line 8, follow the steps below.
Follow these steps to report the amount on Schedule 1, line 8:
- Go to Screen 14.1, SS Benefits, Alimony, Miscellaneous Inc.
- Scroll down to the Alimony and Other Income section.
- Hold down Ctrl+E in the Other income (Ctrl+E) field.
- Enter the Description and Amount.
- Click OK.
If the firm didn't provide instructions and you'd like to report the amount on Schedule E, line 28, follow the instructions below.
Follow these steps to report the amount on Schedule E, line 28:
- Go to Screen 20, Passthrough K-1's.
- Select the partnership from the left navigation panel.
- Scroll down to the Separately Stated Income and Deductions section.
- Locate the First Passive Item subsection.
- Hold down Ctrl+E in the Other (Ctrl+E) field.
- Enter the Description and Amount.
- Click OK.