What do the codes mean in Box 10 of the K-1 for S Corporations?
Other income (loss)
A: Other portfolio income (loss)
B: Involuntary conversions
C: Sec. 1256 contracts & straddles
D: Mining exploration costs recapture
E: Section 951A(a) income inclusions*
F: Inclusions of subpart F income*
G: Section 951(a)(1)(B) inclusions*
I: Gain (loss) from disposition of oil, gas, geothermal, or other mineral properties
J: Recoveries of tax benefit items
K: Gambling gains and losses
M: Gain eligible for 1045 rollover (stock purchased by corporation)
N: Gain eligible for 1045 rollover (stock not purchased by corporation)
O: QSB Stock (1202 Exclusion)
S: Non-portfolio capital gain (loss)
ZZ: Other income (loss) - The corporation should give you a description and the amount of your share for each of these items.
All other codes are reserved by the IRS for future use.
*Not supported* Some codes require additional forms or adjustments that aren't currently supported by FreeTaxUSA. In this case, you may need to file another way.
See the Schedule K-1 (Form 1120-S) instructions for more info about these codes.
What if the boxes on my K-1 don't match?
A: Other portfolio income (loss)
B: Involuntary conversions
C: Sec. 1256 contracts & straddles
D: Mining exploration costs recapture
E: Section 951A(a) income inclusions*
F: Inclusions of subpart F income*
G: Section 951(a)(1)(B) inclusions*
I: Gain (loss) from disposition of oil, gas, geothermal, or other mineral properties
J: Recoveries of tax benefit items
K: Gambling gains and losses
M: Gain eligible for 1045 rollover (stock purchased by corporation)
N: Gain eligible for 1045 rollover (stock not purchased by corporation)
O: QSB Stock (1202 Exclusion)
S: Non-portfolio capital gain (loss)
ZZ: Other income (loss) - The corporation should give you a description and the amount of your share for each of these items.
All other codes are reserved by the IRS for future use.
*Not supported* Some codes require additional forms or adjustments that aren't currently supported by FreeTaxUSA. In this case, you may need to file another way.
See the Schedule K-1 (Form 1120-S) instructions for more info about these codes.
What if the boxes on my K-1 don't match?
