Box 11 on K-1 form 1065

Forum|Forum|11 months ago
April 15, 2025
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I am using Turbotax Deluxe 2024 desktop. I have a K-1 from form 1065 that has a loss in box 1 (ordinary income) . It also has a positive amount in box 11 (other income) with a code of ZZ. The net of box 1 and box 11 is positive.

Turbotax does not seem to be considering the amount from box 11. Shouldn't that figure be reflected somewhere? If so, where?

Thanks!

DavidD66

TurboTax doesn't know where to put it. There are more than a few items that get reported on K-1s that don't flow to the appropriate form or schedule where they need to be reported. Primarily because it could be different things. You have to determine what is being reported in Box 11 with code ZZ and determine where to report it on your tax return. There should be a "Statement" for Box 11 code ZZ that came with your K-1 explaining the nature of what's being reported.

According the IRS' Partner's Instructions for Schedule K-1 (Form 1065):

Code ZZ. Other. Any other information you may need to file your tax return.
Report loss items that are passive activity amounts to you following the Instructions for Form 8582. However, if the box in item D is checked, report the loss following the rules for PTPs under Publicly traded partnerships, earlier.

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