coachbja
Level 1
 
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PhoebeRoberts
Level 11
Level 11

I agree with Susan that it goes on Schedule A of Form 8990.

It's a partnership pass-through informational item, not additional income at the 1040 level.

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abs96
Level 3
I don't have a Form 8990 in a personal 1040 return to report the excess taxable income from a K-1 (1065), line 20, Code AE.  Does this amount go on Line 21 of a 1040
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PhoebeRoberts
Level 11
Level 11
Well you need to get a Form 8990, then.

"It's a partnership pass-through informational item, not additional income at the 1040 level."
Just-Lisa-Now-
Level 15
Level 15

Unless there's some addiotnal kind of information telling what type of excess taxable income it is, I guess Line 21, Other Income is the winner.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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sjrcpa
Level 15
This is in refernece to the 163(j) business interest limitation and Form 8990. Is there excess business interest and Adjusted taxable income on that K-1, too?

The more I know the more I don’t know.
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kaquil6789
Level 1
no
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