Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

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

AgBookie
Level 2
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Solution

Accepted Solutions
PhoebeRoberts
Level 11
Level 11

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.

View solution in original post

4 Comments 4
PhoebeRoberts
Level 11
Level 11

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?

AgBookie
Level 2

Other deductions from investing  activities.

PhoebeRoberts
Level 11
Level 11

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.

AgBookie
Level 2

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

 

Thank you!

0 Cheers