ProConnect HelpIntuit HelpIntuit

Reporting partnership portfolio income in the Individual module of ProConnect Tax

SOLVEDby IntuitUpdated June 21, 2023

ProConnect Tax doesn't have a specific input field for Schedule K-1, line 11, code A in the Individual module. The firm that prepared the partner's K-1 should've included a description and instructions on how to report the portfolio income on the partner's individual return.

If the firm provided instructions, and the amount should be reported on Schedule 1, line 8, follow the steps below.

Follow these steps to report the amount on Schedule 1, line 8:

  1. From the Input Return tab, go to Income SS Benefits, Alimony, Miscellaneous Income.
  2. Scroll down to the Alimony and Other Income section.
  3. Click on the Other income (Click on button to expand) box.
  4. Enter the Description and Amount.
  5. Click OK.


If the firm didn't provide instructions and you'd like to report the amount on Schedule E, line 28, follow the instructions below.

Follow these steps to report the amount on Schedule E, line 28:

  1. From the Input Return tab, go to Income  Passthrough K-1's  Partnership Info (1065 K-1).
  2. Go to the Select Less Common Scenarios tab.
  3. Scroll down to the Separately Stated Income and Deductions section.
  4. Locate the First Passive Item subsection.
  5. Click on the Other (Click on button to expand).
  6. Enter the Description and Amount.
  7. Click OK.


If the partnership has a residual interest in a Real Estate Mortgage Investment Conduit (REMIC), you need to report the other portfolio income amounts according to the Partner's Instructions for Schedule K-1.

Follow these steps to report the amounts for partnerships with residual interest in REMIC:

  1. From the Input Return tab, go to Income Passthrough K-1's  REMIC Information.
  2. Under R/E Mortgage Investment Conduit, enter the Name of REMIC.
  3. Enter the Employer identification number.
  4. Go to the Income tab.
  5. Locate the Schedule Q Information (Residual Interests Only) section.
  6. Complete all applicable information under the 1st Quarter2nd Quarter3rd Quarter, and 4th Quarter subsections:
    • Taxable income (net loss) (1b)
      • This flows to Schedule E, line 38, column (d).
    • Excess inclusion (2c)
      • This flows to Schedule E, line 38, column (c).
    • Section 212 expenses (3b)
      • This flows to Schedule E, line 38, column (e).

Was this helpful?

You must sign in to vote, reply, or post
ProConnect Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.

Dynamic AdsDynamic Ads