My client get a K-1 from a partnership with box 17 code B amount: -3306. However there is not that option to enter in form 1040 income 1065 K-1 line 17. How can I report that amount?
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Hope this can help:
Alternative Minimum Tax (AMT)
Line 17A - Post-1986 Depreciation Adjustment - This amount represents the taxpayer's post-1986 depreciation adjustment. This amount will automatically pull to line 2l of Form 6251.
Also, if you use Proseries for both partnership and individual, try to import K1 directly instead of manually enter it.
If you look beyond the box selections in box 17, you'll see an entire section dedicated to line 17 B. Hope this helps. Cheers.
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