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Level 2
April 2, 2021
Solved

On an individual tax return in Lacerte, where do you input Form K-1 1065 line 13W.

  • April 2, 2021
  • 1 reply
  • 12 views
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Best answer by PhoebeRoberts

Where would you like them to appear on the tax return?

In my experience, that description generally means "Former misc 2% deductions now federally nondeductible." If your client is in a state that allows those deductions (like California), there might be a state-only input field for them. Otherwise, add them to non-deductible expenses to keep your basis calculation correct.

1 reply

PhoebeRoberts
Intuit Community Champion
April 2, 2021

It depends on where you'd like it to appear on the 1040. What's the item (13W is something like "other deducts, see statement attached;" what does the attached statement say it is?) and where would you like that item to appear on the 1040?

AgBookieAuthor
Level 2
April 2, 2021

Other deductions from investing  activities.

PhoebeRoberts
Intuit Community Champion
April 2, 2021

Where would you like them to appear on the tax return?

In my experience, that description generally means "Former misc 2% deductions now federally nondeductible." If your client is in a state that allows those deductions (like California), there might be a state-only input field for them. Otherwise, add them to non-deductible expenses to keep your basis calculation correct.