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Level 5
March 13, 2021
Question

How do I report partnership Schedule K-1 box 13 code W on an individual return Form 1040 in ProConnect Tax Online?

  • March 13, 2021
  • 1 reply
  • 21 views

How do I report partnership Schedule K-1 box 13 code W on an individual return Form 1040 in ProConnect Tax Online? See attached photo of Schedule K-1 (Form 1065) Part III.

The general instructions with this Schedule K-1 says:

Line 13w Other deductions - Trader expenses. For individuals, combine the values from lines 11i and 13w to determine whether you have a nonpassive income or loss. Reported on Schedule E, Line 28, (i) or (k)

 

 

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1 reply

Intuit Community Champion
March 14, 2021

Her is link for IRS instructions:

https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf

nmmsAuthor
Level 5
March 14, 2021

I've read the IRS instructions. The IRS instructions don't tell me where/how to input partnership Schedule K-1 box 13 code W on an individual return in ProConnect Tax. 

The Intuit Accountant's Community Help Articles tells how to do it in Lacerte, but I have not found anything telling how to do it in ProConnect Tax. This is the link for Lacerte:   https://proconnect.intuit.com/community/schedule-k-1/help/reporting-partnership-schedule-k-1-line-13-code-w-on-an/00/3702 

Intuit Help Article for ProConnect Tax Partnership K-1 Input Box 13 has no help for code WThis is the link for ProConnect Tax:  https://proconnect.intuit.com/community/schedule-k-1/help/partnership-k-1-input-box-13/00/4779 

 

Intuit Community Champion
March 15, 2021

You need to ask the partnership what it is for, as it could be for a whole host of stuff. I wouldn't lose a lot of sleep over 8 bucks