Some K-1 entries aren't handled automatically by TurboTax. The theory and mechanism of the Deductible Dependent Care Benefits are very similar to the handling of Dependent Care Benefits of an employer.
Whereas, for an employee, the business (employer) takes the deduction; the partnership is not allowed to take an ordinary deduction, but instead to passes the deduction to the partner as a separately stated deduction. The partner then takes the deduction on their tax return.
On
the screen titled Describe the Partnership, select the box
for I am required to pay supplemental business expenses on behalf of
this partnership/LLC for which I am not reimbursed. (see screenshot
below)
When
you get to the Miscellaneous Supplemental Expenses screen,
·
Enter the Schedule K-1, Box 13, Code 0 amount in the amount field.
·
Enter Deductible Dependent Care Benefits in
the description field.
