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Form 1065 Partners Basis

Level 2

Preparing a form 1065 for a partnership (LLC) that owns a house. There is no rental income and we only file the 1065 so we can report the Real Estate Taxes and Mtg Interest on the K-1 line 13W for the taxpayers to deduct on their personal return.

However, there are other expenses that are non-deductible (18C) that I have inputted to reduce tax basis for each partner. I cannot get these expenses to show on the Partners basis Worksheet line 11 (nondeductible expenses).

Any ideas?

Thanks in advance

 

Rich P.
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Level 11
Level 11

Did you enter them on 1065 page 4-5

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2 Replies 2
Level 11
Level 11

Did you enter them on 1065 page 4-5

View solution in original post

Level 2

Thanks for responding, I actually just figured it out. I was missing the Nondeductible Expense smart worksheet.

Rich P.