DIY Products

DIY Products

Whether you’re an experienced do-it-yourselfer or doing your own taxes for the first time, this is your place to learn and share. Here you’ll find information and resources for using H&R Block’s online and software DIY solutions. You’ll also find links to more information to assist you on your DIY journey.

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Pioneer
Posts: 2
Registered: ‎04-16-2018

Entering 401k from a K-1 (the right way)

I have trouble with this.  Enter 24K into box 13, "R" coded, but it almost appears the "Tax Due" goes up rather than down.  I believe there is another area where this data needs to go to fully be entered, but it's not intuitive.  Any help out there?

Council Member
Posts: 516
Registered: ‎04-06-2016

Re: Entering 401k from a K-1 (the right way)

What type of K-1 is it? 

 

Karen

Pioneer
Posts: 2
Registered: ‎04-16-2018

Re: Entering 401k from a K-1 (the right way)

It's a partnership (LLC)

Council Member
Posts: 516
Registered: ‎04-06-2016

Re: Entering 401k from a K-1 (the right way)

jdroller,

I started to look into this for you, but it appears to be a very broad subject with many nuances and I'm not sure which would apply to you. I'd suggest starting by doing a web search for "partnership k-1 401k" and see if you can narrow down your situation to more specifics.

 

There is also a Partner Instructions for K-1 (1065) document that you might find useful: https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf . There's info about Box 13, code R and Box 14, code A (that you'd need to have in order to take the 401k contribution deduction on page 1 of your return) starting on page 11.


Karen