I have a k-1 with an amount in Box 11 (C) Section 1256 Contracts and Straddles. I entered the information on the Passthru K-1 tab. Why is it not generating Form 6781?
This discussion has been locked. No new contributions can be made. You may start a new discussion here
If you are preparing a partnership return, why would you expect F.6781 to be generated for the Line 11C item from a pass-through K-1? The income is taxable at the shareholder level and it will then be reported on F.6781 of the shareholder's return.
On the other hand, if you are preparing a 1040 the amount entered on Screen 20.1, under the section for Line 11 - Other, on the line for (11C) 1256 gain (loss) will flow correctly to F.6781.
Why is the Form 6781 available in the partnership return then? If the Section 1256 transaction originated with the partnership? So if it's just flowing through from another entity it just goes directly to the Schedule K-1 to flow to the shareholder then?
And yes I'm preparing the partnership return.
Yes and Yes
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.