Sch K-1 F1041 shows $435 long term CG, but turbo tax only shows box 5 (nonbusiness income). Why? How to correct?

Forum|Forum|3 years ago
March 17, 2023
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Best answer by Anonymous_

@sms194122

You will not see the long-term capital gain figure ($435) in your K-1 summary. I entered $435 on Line 4a and $500 on Line 5 and only the figure on Line 5 appears ($500) in the summary.

The $435 is transferred to Line 12 of Schedule D as indicated by @JulieS.

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JulieS

Capital gain shown on Schedule K-1 (1041) goes to line 5 of Schedule D, if it is short term or line 12 of Schedule D, if it is long term.

If you check your Schedule D and don't see the figure, respond back and we can help you find the part you need to edit to correct this.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

sms194122Author

Not the answer to my question. I entered the long term CG on line 4a along with income on line 5 of Par III of Sch K-1, the turbotax software only shows the amount in box 5 and completely eliminates the amount shown in box 4a. It is a turbotax software issue. I need to talk with someone about this from turbotax. How do I contact an

individual from turbotax to explain why the software is not including line 4a from Sch K-1? My software is completely useless if I can't correct this.

Anonymous_Answer

Employee

@sms194122

You will not see the long-term capital gain figure ($435) in your K-1 summary. I entered $435 on Line 4a and $500 on Line 5 and only the figure on Line 5 appears ($500) in the summary.

The $435 is transferred to Line 12 of Schedule D as indicated by @JulieS.

Untitled.png2.png