Form 8978 - Partner’s Additional Reporting Year Tax
Online · Written guide Content date 1 min read
A partner in a partnership will receive Form 8978, Partner's Additional Reporting Year Tax, when the partnership has reported adjustments on Form 8986, Partner's Share of Adjustment(s) to Partnership-Related Item(s) and the partnership has elected to push the adjustments out to the partners.
The individual partner reports the amount on Form 8978 line 14 in their individual tax return. In Tax Processors Plus Online, where this amount is reported depends on whether it is a positive or a negative number.
If it's a positive number, from the Federal Section of the tax return select:
- Other Taxes
- Other Additional Taxes
- Additional tax from Form 8978 - Enter the amount.
If it's a negative number, from the Federal Section of the tax return select:
- Deductions
- Credits
- Other nonrefundable credits
- Amount on Form 8978, Line 14 - Enter the amount.
Additional Information: