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Enter Schedule K-1 (1120S) credits for a 1040

Use the table to determine data entry for various credits reported on a Schedule K-1 from an 1120S Corporate return.
K-1 Box 13
Folder > Screen
Field
Codes A, B, C, and D - Low-income housing Credit
K1 1065, 1120S > K1-4 Screen
Low-income housing credit from pre-2008/post-2007 buildings
Code E - Qualified rehabilitation expenditures (rental real estate)
K1 1065, 1120S > 3468
Various
Code F - Other rental real estate credits
Various based on what type of credit is identified by the Corporation
Various
Code G - Other rental credits
Various based on what type of credit is identified by the Corporation
Various
Code H - Undistributed capital gains credit
K1 1065, 1120S > K1-4 Screen
Undistributed capital gains credit
Code I - Biofuel producer credit
K1 1065, 1120S > K1-4 Screen
Credits statement
Code J - Work opportunity credit
K1 1065, 1120S > K1-4 Screen
Credits statement
Code K - Disabled access credit
K1 1065, 1120S > K1-4 Screen
Credits statement
Code L - Empowerment zone employment credit
K1 1065, 1120S > K1-4 Screen
Credits statement
Code M - Credit for increasing research activities
K1 1065, 1120S > K1-4 Screen
Credits Statement
Code N - Credit for employer social security and Medicare taxes
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Unused investment credit (form 3468)
K1 1065, 1120S > 3468 Screen
Unused investment credit from cooperatives (Part II)
Code P - Unused investment credit from the rehabilitation/energy
K1 1065, 1120S > 3468 Screen
Unused investment credit from cooperatives (Part III)
Code P - Orphaned drug credit (Form 8820)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Enhanced oil recovery (Form 8830)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Renewable electricity, refined coal, and Indian coal production credit
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Indian employment credit (Form 8845)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Biodiesel and renewable diesel fuels credit
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - New Markets credit (Form 8874)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Credit for small employer pension plan startup costs (Form 8881)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Credit for employer-provided childcare facilities and services (Form 8882)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Low Sulfur diesel fuel production credit (Form 8896)
K1 1065, 1120S > K1-4 Screen
Credit statement
Code P - Qualified railroad track maintenance credit (Form 8900)
K1 1065, 1120S > K1-4 Screen
Credit Statement
Code P - Distilled spirits credit (Form 8906)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Alternative motor credit (Form 8910)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Alternative fuel vehicle refueling property credit (Form 8911).
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Qualified zone academy bond
K1 1065, 1120S > K1-4 Screen
Bond credits not reported on Form 1097-BTC
Code P - Clean renewable energy bond credit
K1 1065, 1120S > K1-4 Screen
Bond credits not reported on Form 1097-BTC
Code P - New clean renewable energy bond credit
K1 1065, 1120S > K1-4 Screen
Bond credits not reported on Form 1097-BTC
Code P - Qualified energy conservation bond credit.
K1 1065, 1120S > K1-4 Screen
Bond credits not reported on Form 1097-BTC
Code P - Build America bond credit
K1 1065, 1120S > K1-4 Screen
Bond credits not reported on Form 1097-BTC
Code P - Qualified school construction bond credit
K1 1065, 1120S > K1-4 Screen
Bond credits not reported on Form 1097-BTC
Code P - Mine rescue team training credit (Form 8923)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Credit for employer differential wage payments (Form 8923)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Carbon dioxide sequestration credit (Form 8933)
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Qualified plug-in electric drive motor vehicle credit
K1 1065, 1120S > K1-4 Screen
Credits statement
Code P - Creidt for small employer health insurance premiums (Form 8941)
K1 1065, 1120S > K1-4 Screen
Credits statement
General credits from an electing large partnership
K1 1065, 1120S > K1-4 Screen
Credits statement
note
  • For bond credits that were reported on Form 1097-BTC, use the
    8912
     screen in the
    Credits
     folder to enter the credit. Don't use the
    K1-4
     screen, Credits statement.
  • For Forms 8910, 8911, and 8936, enter recapture amounts on the respective screen in the
    K1 1065, 1120S
     folder.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Credits

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