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Business program: how do I enter info o n 1065 so that property taxes show as expense in box 13, code W, on K-1 instead of ordinary income loss, line 1?
I have not coded LLC partnership as a business, which seems to be what is happening..it is coded 999999 on the 1065. This is an LLC which has 3 partners who are holding inherited land to sell when market is strong again. Only expense is property taxes and some clean up fees.
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‎June 6, 2019
8:03 AM