I sold UNG in 2020 and got K1 for it. Box 13 has a code W and an amount of 1. I put that in and get a question about the details of Code W. Which one I should select?

[xcai5591]

The supplemental information that comes with K1 seems to suggest that Line 13w is for Other Directions - Trader expenses. But I don't see that option in the question list. Here are the ones I see.

- Early Withdrawal Penalty
- Investment Interest Expense
- Miscellaneous Itemized Deductions
- Nonpassive Deductions to be Reported on Schedule E, Page 2
- Section 754 Depreciation
- Taxes and State Income Tax Withheld
- I have Another Description Item

[ToddL99]

You can select "I have another Description Item" (because that is what you have) - or you can remove the entry altogether (my recommendation).

Omitting a $1 entry in Box 13, Code W isn't going to have any measurable effect on your tax calculation and won't create an error with e-filing or the IRS.

Box 13 for Schedule K-1 of Form 1065 is "Other Deductions. Code W for Box 13 is "Other Deductions", as well. It is a catch-all for items that must be reported at the Partnership-level but won't usually have any effect at the partner-level (you). This might be different if you had a major interest in the partnership.

The Partner's Instruction for Sch. K-1 (Form 1065) (2020) (page 12) gives a very long list of what these deductions MAY be, which means they could be any of a number of items that aren't listed . Yours appears to be Trader Expenses.