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Related to form K-1 box 11A: Where to put "Portion of excess deductions on termination not subject to Net Investment Income Tax"?

 
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PatriciaV
Employee Tax Expert

Related to form K-1 box 11A: Where to put "Portion of excess deductions on termination not subject to Net Investment Income Tax"?

Yes, items from Form 1041 Schedule K-1 Box 11 Code A may be included as a Miscellaneous Itemized Deduction on Schedule A. These deductions are subject to the 2% floor, which means they must exceed 2% of your adjusted gross income in order to be included on Schedule A.

If you don't have enough income to deduct the full amount from Box 11, any unused portion is lost.

The easiest way to find this section of TurboTax is to open your return use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in "itemized deductions", hit Enter, and click on "jump to itemized deductions" to go directly to beginning of this topic. 

Click the box for "I'll choose what I work on," scroll to the bottom and click Start/Update beside Other Deductible Expenses. Follow the prompts to enter the amounts from Schedule K-1 Box 11.

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