- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thanks for the direction - and I apologize for the frustration in my earlier post. After a little more work and research, I was able to drill into a supporting worksheet to enter the information; I canceled the override I made earlier (on Schedule E Part II line 28) and resolved the error which allowed me to submit the efile.
Here are a few details: In my situation, I purchased additional shares in an LLC from another member exiting the business. I purchased those shares on contract (yes, took out a personal loan), resulting in interest expense which IRS Publication 535 addresses. In turbotax, "Schedule K-1 Partnership Additional Information" has a section at the end titled "Outside Expenses" and a place for "Interest Paid" for interest expense from debt used to finance acquisition of partnership interest. That entry was the key. Again - Thanks!