You'll need to sign in or create an account to connect with an expert.
You can deduct the expenses in the K-1 section of Turbotax as Unreimbursed Partnership Expenses (UPE).
The LLC should have language in its operating agreement that requires you to pay those expenses out of your own pocket without reimbursement.
You can deduct the expenses in the K-1 section of Turbotax as Unreimbursed Partnership Expenses (UPE).
The LLC should have language in its operating agreement that requires you to pay those expenses out of your own pocket without reimbursement.
You will look for the screen below to indicate that you had Unreimbursed Partnership expenses. This will be reported on your Schedule E as UPE.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
keith79797
Level 1
ksarikhani
Level 1
Dflex CEO
Level 2
in Education
naomi20039
New Member
in Education
aqelyazid
New Member