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I have a letter from a limited partnership that instructs me to enter a number on form 1040 schedule A line 23. How do i do that?

 
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I have a letter from a limited partnership that instructs me to enter a number on form 1040 schedule A line 23. How do i do that?

Ok Schedule A line 23 is for investment expenses.  
Federal Taxes
Deductions and Credits
Then scroll down to Retirement and Investments
Other Investment Expenses - Click the Start or Update button

But it's usually not worth even putting in.   It is a Misc Deduction and only the amount OVER 2% of your AGI is deductible.  And then all your deductions have to be more than the Standard Deduction to give you any benefit.  

For example, you make $20,000 AGI.  Only the amount over $400 (20,000 x .02) would even be deductible.  And that's only for 20,000 AGI.  For like 50,000 AGI only the amount over $1,000 would be deductible.

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3 Replies

I have a letter from a limited partnership that instructs me to enter a number on form 1040 schedule A line 23. How do i do that?

Did you get a Schedule K-1 from the partnership?  You need to enter that.

I have a letter from a limited partnership that instructs me to enter a number on form 1040 schedule A line 23. How do i do that?

it was a letter not  a form and they will not send me a K1

I have a letter from a limited partnership that instructs me to enter a number on form 1040 schedule A line 23. How do i do that?

Ok Schedule A line 23 is for investment expenses.  
Federal Taxes
Deductions and Credits
Then scroll down to Retirement and Investments
Other Investment Expenses - Click the Start or Update button

But it's usually not worth even putting in.   It is a Misc Deduction and only the amount OVER 2% of your AGI is deductible.  And then all your deductions have to be more than the Standard Deduction to give you any benefit.  

For example, you make $20,000 AGI.  Only the amount over $400 (20,000 x .02) would even be deductible.  And that's only for 20,000 AGI.  For like 50,000 AGI only the amount over $1,000 would be deductible.
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