1041 K-1 line 14 code H treatment?

[Colmatt]

K-1 has dividend income of 12,000 and other on line 5 14,000.  Line 14 H is -11000.  How do I treat this?

Thanks

[sjrcpa · Accepted solution]

The K-1 Code sheet tells you exactly where it goes.

[Colmatt]

I do see that it is an adjustment for section 1411 net investment income.  In this case the taxpayer does not go above the NIIT threshold of $125,000 so it seems this amount doesn't affect this return this year.  Let me know if I'm thinking correctly. 

Let me say, I am always so appreciative of your posts.  Although I am very old, I am still not too old to learn from your expertise.   

[sjrcpa]

You are thinking correctly.

[Colmatt]

Thanks again.