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mmueller1960
Returning Member

k-1 box 13 deduction does not offset income from box 2

I'm entering information from a K-1 with income in box 2 and deductions in box 13. The deductions do not offset the income in the final numbers, and the accountant that helped prepare the schedule said they should.  This is rental of farm land, so I choose special handling. All at risk. Any thoughts why this is happening or what I might be entering wrong?  Thanks.

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2 Replies
jtax
Level 10

k-1 box 13 deduction does not offset income from box 2

What type of K-1 (1065, 1120-S, 1041?)

 

What are the box 13 codes?

 

Is thee anything in box 1 or just box 2?

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mmueller1960
Returning Member

k-1 box 13 deduction does not offset income from box 2

It's a 1065 K-1.

The box 13 code is W.

Nothing in box 1.

Box 20 has code Z, and the 199A worksheet has 5,630 net rental real estate income (loss) and 19,964 Other deductions.

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