Received an Estate 1041 K-1 with box 14 code E and do not see where to enter in the 1040 module for my client. Where should I enter it?
Best Answer Click here
If you've already entered the interest and divs from the K-1 (investment income) it will automatically flow to the NIIT form.
Looks like 1040 K1 code 14E is net investment income. I imagine you would treat it similar to what the note says on the Partnership K-1 input screen for code 20Y:
(20Y) NOTE: Net investment income. The partnership may use this code Y to report information you may need to determine the net investment income tax under section 1411. Enter section 1411 information, or changes to investment income for CFCs and PFICs, in the Other Taxes screen, under the Net Investment Income Tax section (Form 8960).
Make sure not to double enter anything already included elsewhere on the K-1.
If you've already entered the interest and divs from the K-1 (investment income) it will automatically flow to the NIIT form.
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.