Where do I enter Partnership K1 Box 13, Code W? "Other Deductions"

Forum|Forum|6 years ago
February 29, 2020
2 replies
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The K1 supplement details the amounts as:
Amortization $97
Mgmt & Operating $565
Specialy Allocated Inv Advisory Fees $562
State Tax Expense $6

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Best answer by itonewbie

You need to check the supplemental statement provided with the K-1 for the nature and character of these deductions in order to determine whether these are deductible and where to make the input.

State Tax Expense could be Sch A but, again, you need to refer to the supplemental statement for guidance.

Investment Advisory Fees could be 2% misc itemized deduction but that wouldn't be relevant for Fed under TCJA even though it may still be deductible for state. Again, refer to the supplemental statement.

PhoebeRoberts

Intuit Community Champion

Where would you like each of those items to appear on the 1040?

itonewbieAnswer

Level 15

You need to check the supplemental statement provided with the K-1 for the nature and character of these deductions in order to determine whether these are deductible and where to make the input.

State Tax Expense could be Sch A but, again, you need to refer to the supplemental statement for guidance.

Investment Advisory Fees could be 2% misc itemized deduction but that wouldn't be relevant for Fed under TCJA even though it may still be deductible for state. Again, refer to the supplemental statement.

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