ToddL99
Expert Alumni

Business & farm

You can select "I have another Description Item" (because that is what you have) - or you can remove the entry altogether (my recommendation).

 

Omitting a $1 entry in Box 13, Code W isn't going to have any measurable effect on your tax calculation and won't create an error with e-filing or the IRS.

 

Box 13 for Schedule K-1 of Form 1065 is "Other Deductions. Code W for Box 13 is "Other Deductions", as well. It is a catch-all for items that must be reported at the Partnership-level but won't usually have any effect at the partner-level (you). This might be different if you had a major interest in the partnership.

 

The Partner's Instruction for Sch. K-1 (Form 1065) (2020) (page 12) gives a very long list of what these deductions MAY be, which means they could be any of a number of items that aren't listed . Yours appears to be Trader Expenses.