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 TaxSlayer ProWeb, where this amount is reported depends on whether it is a positive or a negative number.
If it's a positive number, from the Main Menu of the tax return (Form 1040) select:
- Tax Computation
- Total Other Taxes
- Additional Tax from Form 8978 - Enter amount.
If it's a negative number, from the Main Menu of the tax return (Form 1040) select:
- Credits
- Amount on Form 8978, Line 14 - Enter amount.
Additional Information: