K-1 Line 11 A

[kimiressler]

I just received a final K-1 on March 12th, I filed my taxes over a month ago. On line 11 I have a code A (excess deductions). In the letter that came with the form, it states that if the added deductions will benefit me or if there is taxable income I should file an amended return for 2019. If the added deductions do not benefit me, I do not need to file an amended return. The amount is  minimal and it is coded as a deduction, I would prefer not to file an amended return, is this wise? Or am I not understanding the terminology? Bottom line I do not want to get fined or penalized for not filing an amended return. Any advise is greatly appreciated.

[Anonymous_ · Accepted solution]

---

@kimiressler wrote:

The amount is  minimal and it is coded as a deduction, I would prefer not to file an amended return, is this wise?

---

It probably will not benefit you in the least. In fact, it almost certainly will not if it is a small amount.

The excess deductions on Line 11(A) typically flow through to Schedule A as miscellaneous itemized deductions, but those deductions have essentially been eliminated by tax reform (the TCJA).

[Irene2805]

As you stated, since the amount is a deduction and not additional taxable income, you do not have to amend the return you already filed.

tagteam also mentioned why you would probably not benefit from the inclusion.