When I try to enter normally on Schedule C it does not put through the deduction since there is no income. The income shows up on the K1 form. I am 90% owner on the K1.
The ordinary and necessary business expenses the partnership agreement requires you to pay are reported on Form 1040 Schedule E page 2, click here for Instructions to Form 1040 Schedule E, (see page E-9 Unreimbursed Partnership Expenses), click here for information on the home office deduction for partners in a partnership.
To enter partnership expenses in Turbo Tax Self-Employed:
· Open the return
· Select the Personal tab
· Scroll down to Business Investment and Estate/Trust Income section
· On the Schedule K-1 line, click Start
· Go thru the screens and answer the questions, until you get to the Describe the Partnership page
· On the Describe the Partnership page, click the box I am required to pay supplemental business expenses on behalf of this partnership/LLC for which I am not reimbursed expenses, click Continue
· On the Unreimbursed Partnership Expenses page, click Yes
· Click through the following screen and enter the appropriate amount
NOTE: You will calculate the amount allowed as a home office deduction, and you can enter that amount on the Miscellaneous Supplemental Expense screen