2667183
Bought a stock and receive schedule k-1 form 1065. box 13 with code w, other deductions - trader expenses, amount 0. TT kept asking for detail on box 13 code W. But I don't have any additional information, how to proceed?
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since the amount is 0 delete code w on line 13
Thank you for the confirmation
@Mike9241
What to select in "Enter Code W Detail" if box 13w, other deductions is not 0?
The K1-form instructions describe it as - "Line 13w Other deductions – Trader expenses. For individuals, combine the values from lines 11i and 13w to determine whether you have a nonpassive income or loss. Reported on Schedule E, Line 28, (i) or (k)".
What I should select in "Enter Code W Detail" ? Check the below pic for all the options -
Choose "Nonpassive Deductions to be reported on Schedule E, Page 2," per the instructions from your K-1 info.
Schedule E Line 28, Column i is for Section 179 Non-Passive Income/Loss and Column k is for Non-Passive Income.
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