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willatbird
willatbird
Level 5
September 15, 2021
Question

Entering PFIC Capital Gain income from K-1

  • September 15, 2021
  • 1 reply
  • 3 views

11I shows PFIC income split into Ordinary Income and Capital Gains. Notes say specifically that the partnership has made the PFIC election and a form 8621 is not necessary for my client. Is it OK to enter the Capital Gain income on line 9a? Is there a better place to enter it? 

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1 reply

PhoebeRoberts
PhoebeRobertsIntuit Community Champion
Intuit Community Champion
September 15, 2021

I personally enter it on 9a.

    willatbird
    willatbirdAuthor
    Level 5
    September 15, 2021

    Thanks. After scrutinizing the instructions for the PFIC form that seems to put it where it's supposed to land. 

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