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C
Colmatt
Level 5
March 19, 2024

1041 K-1 line 14 code H treatment?

  • March 19, 2024
  • 1 reply
  • 9 views

K-1 has dividend income of 12,000 and other on line 5 14,000.  Line 14 H is -11000.  How do I treat this?

 

Thanks

    1 reply

    sjrcpa
    sjrcpa
    Level 15
    March 19, 2024

    The K-1 Code sheet tells you exactly where it goes.

    The more I know the more I don’t know.
      C
      ColmattAuthor
      Level 5
      March 20, 2024

      I do see that it is an adjustment for section 1411 net investment income.  In this case the taxpayer does not go above the NIIT threshold of $125,000 so it seems this amount doesn't affect this return this year.  Let me know if I'm thinking correctly. 

       

      Let me say, I am always so appreciative of your posts.  Although I am very old, I am still not too old to learn from your expertise.   

      sjrcpa
      sjrcpa
      Level 15
      March 20, 2024

      You are thinking correctly.

      The more I know the more I don’t know.
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