What code is in box 11 of the Schedule K-1 and and what is the nature of the deduction?
Miscellaneous deductions subject to the 2%-of-AGI floor have been suspended through 2025 and probably should not be present on the Schedule K-1 at all. Only deductions listed in the instructions for Schedule A for line 16 are permitted as Other Itemized Deductions. Miscellaneous deductions subject the the 2%-of-AGI floor are potentially deductible only on your state income tax return.
