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Entering a Box 14, Code H Adjustment for Section 1411 from a Fiduciary K-1 into a return in ProConnect Tax

by ProConnect Tax Online Updated 7 months ago

To enter the amounts for the adjustment:

  1. From the Input Return tab, go to Taxes Other Taxes Schedule J, Recapture, Other Taxes.
  2. Locate the Net Investment Income Tax (Form 8960) section.
  3. Enter the amounts from the Schedule K-1 in the Other modifications to investment income [Adjust] input.
    • Enter the amount exactly as it is on the Schedule K-1.
    • If it's a negative number, enter as a negative; if a positive number, enter as positive.

This will take the amount directly to Form 8960, Line 7 and incorporate it into the computation for receiving the fiduciary's net investment income and deduction adjustment, and will also be included in the receiving fiduciary's beneficiary(ies) Schedule K-1, Box 14, code H.

ProConnect Tax

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