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R
rfs2
Level 1
August 21, 2023
Question

are k1 line line 13 code L or code W Professional and Management fees reported on Schedule A line 16?

  • August 21, 2023
  • 1 reply
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are k1 line line 13 code L or code W Professional and Management fees reported on Schedule A line 16?

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T
Terry53029Intuit Community Champion
Intuit Community Champion
August 21, 2023

From the instructions for a 1065 K1. Code L. Deductions—portfolio income (other). Generally, you should report these amounts on Schedule A (Form 1040), line 16. See the instructions for Schedule A, line 16, for details. These deductions are not taken into account in figuring your passive activity loss for the year. Do not enter them on Form 8582. For code W The partnership will give you a description and the amount of your share for each of these items.

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