My K-1 says the following: Line 13W expenses are portfolio deductions formerly reported on box 13K as 2% portfolio deductions that are non-deductible for certain taxpayers, including individuals, and would reduce your tax basis in the partnership. Please consult your tax advisor." How do i enter the K-1 Code w detail page? None of the options match the above statement.
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It is really not necessary to enter these expenses. They are investment management/advisory fees. Because of tax reform changes, these are no longer deductible on your personal return. You can omit them for your personal return purposes.
It is really not necessary to enter these expenses. They are investment management/advisory fees. Because of tax reform changes, these are no longer deductible on your personal return. You can omit them for your personal return purposes.
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