I have a partnership K-1 with Box 13 Code W Business Interest Expense; where in the K-1 input for 1040 can I enter it?

Forum|Forum|6 years ago
December 7, 2019
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Best answer by itonewbie

There is no standard answer to this because it all depends on the supplemental details from the K-1 about the kind of deduction it is. Once you identify the deduction, you may need to enter that directly on the relevant form or schedule as it's probably not something that could flow through the K-1 input.

itonewbieAnswer

Level 15

There is no standard answer to this because it all depends on the supplemental details from the K-1 about the kind of deduction it is. Once you identify the deduction, you may need to enter that directly on the relevant form or schedule as it's probably not something that could flow through the K-1 input.

---------------------------------------------------------------------------------Still an AllStar

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sinclair666

Level 2

I have a Line 13W on a pass thru K-1 from a real estate partnership. The 13W is for Other Deductions - Debt Financed Interest. How would I enter this as there is no 13 W line

sjrcpa

Level 15

Depends on how they used the distributions they received. The full description is interest on debt financed distributions.

If for personal stuff - no deduction, ignore it.

If they invested the money it is investment interest Form 4952/Schedule A.

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

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