Skip to main content
Level 2
September 30, 2021
Question

Where do I enter Partnership K-1, Line 13, code k on trust module

  • September 30, 2021
  • 1 reply
  • 11 views
Also, where do I enter Partnership K-1, interest subject to tracing rules on trust module
This topic has been closed for replies.

1 reply

sjrcpa
Level 15
September 30, 2021

If you think the interest is deductible, enter it where you enter deductible interest.

If not deductible don't enter it.

The more I know the more I don’t know.
JoyceDAuthor
Level 2
September 30, 2021

Hi sjrcpa,

So, interest subject to tracing rules, I can keep track using Form 4952 by entering manually, this I see on screen 30.  Which screen do I use to keep track of excess business interest?

Thank you.

sjrcpa
Level 15
September 30, 2021

Do you need to? Is the trust subject to the 163(j) limit?

If you need to, keep track in Excel. As you have noticed, the trust program is not robust for entering K-1s received. (Neither are the 1065 & 1120S programs.)

The more I know the more I don’t know.