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On an individual tax return in Lacerte, where do you input Form K-1 1065 line 13W.

AgBookie
Level 1
 
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PhoebeRoberts
Level 9
Level 9

Where would you like them to appear on the tax return?

In my experience, that description generally means "Former misc 2% deductions now federally nondeductible." If your client is in a state that allows those deductions (like California), there might be a state-only input field for them. Otherwise, add them to non-deductible expenses to keep your basis calculation correct.

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PhoebeRoberts
Level 9
Level 9

It depends on where you'd like it to appear on the 1040. What's the item (13W is something like "other deducts, see statement attached;" what does the attached statement say it is?) and where would you like that item to appear on the 1040?

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AgBookie
Level 1

Other deductions from investing  activities.

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PhoebeRoberts
Level 9
Level 9

Where would you like them to appear on the tax return?

In my experience, that description generally means "Former misc 2% deductions now federally nondeductible." If your client is in a state that allows those deductions (like California), there might be a state-only input field for them. Otherwise, add them to non-deductible expenses to keep your basis calculation correct.

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AgBookie
Level 1

That's the way I understood it also but was not sure if there was an actual input particular to line 13W.

 

Thank you!

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