Problems with K-1 line 13h

Hello,

I received a massive K-1/K-3 from a hedge fund, and I think TurboTax (using Premier Desktop) is overall not very equipped to handle it.

I have a large deduction under section 13h. The instructions attached to the K-1 explicitly say that for individuals this "DEDUCTIBLE BUSINESS INTEREST EXPENSE" should be reported on schedule E. However, TurboTax doesn't list it there, and it seems to be using form 4952, but since I am taking the standard deduction it will not work for me. How can this be overridden?

262

Level 15

Apr 10, 2022 10:27:33 AM

change 13H to 13W. then for 13W list it under investment interest expense deductible on schedule E page 2

The IRS does not see your entries on the Turbotax K-1.

another way to handle it is to list it on line 1 of thek-1

click on the + sign to enter detail such as line 1 per k-1 XXXXXXX

less inv int exp deductible on schedule e page 2 -vvvvvv

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Problems with K-1 line 13h