Thanks in advance for the support from the community and TurboTax experts.
I just formed a General Partnership last year and, of course, this is my first year filing form 1065. This is an investment partnership where capital gains (K1 Part III lines 8 and 9a) and Dividends/Interest are recorded. No "ordinary income" (K1 Part III line 1).
I make all the investment decisions; read company financials, make buy/sell decisions, list to earning reports, etc. So this is not "passive" for me. I have Unreimbursed Partner Expenses and when entering it in the K1 section (per this suggestion https://ttlc.intuit.com/community/tax-topics/help/can-i-deduct-unreimbursed-partnership-expenses/00/...), it is treated as passive, flows to form 8582 and is disallowed because I do not have any passive income (capital gains only).
So my question, in TurboTax, should I ignore the portion where it asks if I have UPE for the partnership and just enter a second "dummy" K1 and call it UPE? How would I enter this expense? Stated another way, IF I had a K1 for UPE, would I enter this expense as a Part III line 1 Ordinary Loss?
