Showing results for 
Search instead for 
Did you mean: 

I have a deduction in box 13 of Sch K1 for qualified income offset. The K1 has a code of "W", but there is no such code to select in ProConnect.???

Level 1
Labels (1)
0 Cheers
1 Reply 1

Code W just means, "Other, figure out what presentation you want and put it there." 

Normally a qualified income offset is an item of income, not deduction. If the amount is material, you might want to make further inquiries.

I usually enter things that are ordinary income and I want to appear on Schedule E p 2 in the Separately Stated Items section of the K-1 input, either passive or nonpassive depending on the underlying activity.