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Get your taxes done using TurboTax
There is still time for the LP to reimburse you in 2021, for the expenses paid from your personal funds.
As stated above by @Anonymous_ you can deduct unreimbursed partnership expenses (UPE) if you were required to pay such expenses personally under the partnership agreement. In other words this must be written in the partnership agreement to use on your personal return.
- As you enter the K-1 you receive from the partnership, TurboTax will inquire as to whether or not you paid partnership expenses for which you were not reimbursed. The notation and amount will appear on Schedule E, page 2 when the return is completed.
@ReneeM7122 has explained how to record the current liability in her response.
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‎February 2, 2021
9:46 AM