Question
I have a partnership K-1 with the following reference "Schedule K-1, Line 13, Code ZZ."
I have a partnership K-1 with the following reference "Schedule K-1, Line 13, Code ZZ."
A brief description: "Pass-Through Entity Tax - NY; reduces Line 1, Ordinary Income $2,677"
Questions:
1) Why would it state "reduces Line 1, ordinary income?"
2) I do not believe there is any line on the federal K-1 for this item?
Any ideas would be appreciated!
Thank you!
