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fxf
Level 2

K-1 Box 13 Code D

The code to support K-1s with Code D in Box 13 was just released today.

 

To my surprise, though, my simple tax return now has numerous errors, all of which on the "Schedule A Line 17 Noncash Contributions Worksheet".

 

I'm being asked to provide numerous details that are not included on the K-1, such as the name and tax ID number of the charity receiving the noncash contribution, the appraisal method, the appraiser name and address, etc.

 

This is puzzling to me, because when I read the IRS Schedule K-1 (Form 1065) instructions, the section pertaining to Box 13 Code D simply says "Report this amount, subject to the 30% AGI limitation, on Schedule A (Form 1040), line 12."

 

Box 13 Code C has a long set of instructions, and it is apparent that you will need access to all sorts of supplemental information from the partnership's tax return in certain cases.

 

But Box 13 Code D is very simple and clean -- at least according to the published instructions, you shouldn't need it.

 

Is it possible this is a bug? It seems like "Code D" is being treated just the same as "Code C", when it should be different.

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7 Replies

K-1 Box 13 Code D

 after entering 13D, then click on continue. Do you see another screen that asks for more info about the charity? if not, close the return, then reopen it and go to the K-1 section for that partnership. click continue on the screen where you enter 13D you should now see a screen asking for the charity's name  

 

fxf
Level 2

K-1 Box 13 Code D

Yes, but the advice I'm getting from my partner's tax preparers (and the 2023 K-1 instructions) is that a form 8283 is not necessary when a partner's K-1 contains code D in box 13. All of this information has already been reported on the partnership's tax filing.

 

 

fxf
Level 2

K-1 Box 13 Code D

The 2023 K-1 Instructions are quite clear on what to do with code D. Amounts associated with this code should *not* appear on form 8283. That's for code C. Here is the relevant section of the instructions:

 

"Code D. Noncash contributions (30%). Report this amount, subject to the 30% AGI limitation, on Schedule A
(Form 1040), line 12."

 

Is there a way to report this to the developers as a bug?

Jheen
New Member

K-1 Box 13 Code D

I am having the same issue

fxf
Level 2

K-1 Box 13 Code D

I ended up asking my partnership for a copy of their Form 8283, "Noncash Charitable Contributions".

 

I decided I probably needed it, despite the contrary advice from the partnership's tax people.  The K-1 instructions say to simply enter the amount on line 12 of Schedule A (1040). Next to line 12 is a note saying that if the value is over $500, you *must* attach form 8283.  When you read through the instructions to 8283, right on the first page, it says that passthrough entities like partnerships must provide their partners with a copy of the partnership's Form 8283.

gtchen66
New Member

K-1 Box 13 Code D

I looked over my 2022 tax where I had a similar K-1 with a 13D deduction.  That time, I just entered the number. This year, 2023, turbo tax wants a lot of information that I simply do not have, such as the original purchase price and date acquired.  I invested in a tax shelter -- this is very confusing.

fxf
Level 2

K-1 Box 13 Code D

If you received a K-1 with a box 13D deduction, you will need to contact the issuer of the K-1 and ask for their form 8283. This is annoying, and a change from 2022. If you look at the 2023 form 8283 instructions, you will see that passthrough entities (s-corps and partnerships) are now supposed to give a copy of their 8283 to their investors along with the K-1.

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