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Schedule K-1 line 13 code T. Where do I put"directly allocable expenses" and"Interest expense" in Turbo tax or do I need to?
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June 6, 2019
12:35 PM
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Business & farm
When entering the K-1 line item for line 13 code T (Domestic Production Activites), you are then brought to the screen to enter the gross receipts, cost of sales, W-2 wages and deductions not directly allocable. Select continue and on the next screen you can enter the "directly allocable expenses." You can include the interest expense in the directly allocable expense amount. See sample screenshots below.
June 6, 2019
12:35 PM