How do I enter Box 11-I from 1065 K-1? Sec 988)
Just enter directly onto "Other income" on 1040?
Thanks~
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Yes, as most gains from foreign currency transactions are taxed as ordinary income
If you use the Quickzoom button below Line 11, you'll find a list of the different types of income that can appear. Should be a page with supplemental information so you know what type of "other income" it is, you can click the yellow ? mark button, I found sec 988 in there.
Yes, as most gains from foreign currency transactions are taxed as ordinary income
Yes, but it didn't flow to any schedule... (I showed it as "other" and provide the explanation... Sec988 Gain.
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