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remcpabsg
Level 2
October 13, 2021
Question

K-1 data to 1040

  • October 13, 2021
  • 1 reply
  • 8 views

Interest income from 1065 K-1 Line 5 not flowing to Sch B in 1040, but appears on K-1 worksheet

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1 reply

IntuitRebecca
Level 6
October 13, 2021

Hi there,

Is there less than $1,500 worth of taxable interest/dividends on the return? If so, the program's probably bypassing the Sch B and reporting the total amount on the Form 1040 line 2, since the Sch B may not be required.

You can force the Sch B on Income > Interest Income (1099-INT, 1099-OID). Click the "General Information" link at the top right of that screen, and enter 1 in "1=force Schedule B to print, 2=when applicable [Override]".

- Rebecca