ustaxes / UsTaxes

Tax filing web application
https://ustaxes.org
GNU Affero General Public License v3.0
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K-1 Dividends and Interest income #1122

Open zakpatterson opened 2 years ago

zakpatterson commented 2 years ago

K-1 dividend and interest income flow through easily to schedule B and should be pretty painless to add.

tmm1 commented 2 years ago

K1s can also have capital gains which flow to Schedule D

In some cases the long term gains reported on the K1 have to be reclassified as short term if they don't need a three year holding period (section 1061 faq 3). For those extra entries need to be added to 8949 labeled "Section 1061 Adjustment"