jbnickel
Level 1
12-07-2019
08:40 AM
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That is not where the deduction is taken. That form is used to compute the deductible amount of the excess. The expense is a separately stated item on the K-1 and must be entered manually. So my question is what form to take the deduction? Without further guidance, I'm going to report on Sch E, page 2, along with the other K-1 pass thru income.