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Business & farm
Tagteam's answer is correct if your K-1 is from a Partnership (Form 1065).
But if your K-1 is from a S-corporation (Form 1120-S), then you enter it under personal business expenses as an Itemized deduction (which is not currently deductible on the Federal tax return, but some states allow the deduction).
‎October 5, 2020
2:37 PM