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how to enter schedule k-1 (form 1065) box 13w, other deductions - trader expenses, amount 0?

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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4 Replies

how to enter schedule k-1 (form 1065) box 13w, other deductions - trader expenses, amount 0?

since the amount is 0 delete code w on line 13

 

how to enter schedule k-1 (form 1065) box 13w, other deductions - trader expenses, amount 0?

Thank you for the confirmation

how to enter schedule k-1 (form 1065) box 13w, other deductions - trader expenses, amount 0?

@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 - 

Screen Shot 2022-04-11 at 12.09.51 PM.png

 

PatriciaV
Expert Alumni

how to enter schedule k-1 (form 1065) box 13w, other deductions - trader expenses, amount 0?

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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