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Temecularevev
Level 2

Sch K-1, 1041, Line 11A

Received 2019, Sch K-1, Form 1041, from estate CPA. I am a beneficiary. Box 11A shows Final year Deduction of $36,000. CPA states this is a Miscellaneous Deduction, Line 16, not subject to the 2% limitation. How do I make this entry in Turbo Tax? I'm using Turbo Tax Deluxe.

1 Best answer

Accepted Solutions
tagteam
Level 15

Sch K-1, 1041, Line 11A


@Temecularevev wrote:

CPA states this is a Miscellaneous Deduction, Line 16, not subject to the 2% limitation. How do I make this entry in Turbo Tax? I'm using Turbo Tax Deluxe.


Miscellaneous deductions were eliminated upon the passage of tax reform (TCJA). The only line on which to enter a Schedule A deduction would be Line 16 and the IRS instructions limit the deductions on that line to those listed below.

 

  • Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, and raffle tickets), but only to the extent of gambling winnings reported on Schedule 1 (Form 1040 or 1040-SR), line 8.

  • Casualty and theft losses of income-producing property from Form 4684, lines 32 and 38b, or Form 4797, line 18a.

  • Federal estate tax on income in respect of a decedent.

  • A deduction for amortizable bond premium (for example, a deduction allowed for a bond premium carryforward or a deduction for amortizable bond premium on bonds acquired before October 23, 1986).

  • An ordinary loss attributable to a contingent payment debt instrument or an inflation-indexed debt instrument (for example, a Treasury Inflation-Protected Security).

  • Deduction for repayment of amounts under a claim of right if over $3,000. 

  • Certain unrecovered investment in a pension.

  • Impairment-related work expenses of a disabled person.

See https://www.irs.gov/instructions/i1040sca#idm140577498784400

 

 

If your CPA is insistent that the expense is deductible on Line 16 of Schedule A but it does not fit into one of the enumerated categories (perhaps it is deductible as a Section 212 expense), then you can enter that expense directly on Schedule A in Forms Mode, which mode is only available in the desktop products, not in the online versions.

 

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3 Replies
JamesG1
Expert Alumni

Sch K-1, 1041, Line 11A

Schedules K-1 are not supported in TurboTax Deluxe.  Schedules K-1 are supported in Premier or Self-Employed.

 

To enter Schedule K-1 Estates or trusts information, follow these steps.

  • Down the left side of the screen, click Federal.
  • Across the top of the screen, click Income & expenses.
  • At the screen Your Income and expenses, scroll down to Schedule K-1.
  • Click on Edit / Add to the right.
  • At the screen Tell us about your schedule K-1, click Update to the right of Estates or trusts (form 1040).
  • Enter information about the schedule K-1.  Continue through several screens.
  • At the screen Check boxes that have an amount click the box 11.  Click Continue.
  • At the screen Enter box 11 info, enter the correct values.

 

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Temecularevev
Level 2

Sch K-1, 1041, Line 11A

Thanks for the reply/answer. But I can not find anyway to upgrade from Deluxe. All the "Helps" say there should be an "Upgrade" link when I'm at my tax return. Using Windows, full screen. Any suggestions?

tagteam
Level 15

Sch K-1, 1041, Line 11A


@Temecularevev wrote:

CPA states this is a Miscellaneous Deduction, Line 16, not subject to the 2% limitation. How do I make this entry in Turbo Tax? I'm using Turbo Tax Deluxe.


Miscellaneous deductions were eliminated upon the passage of tax reform (TCJA). The only line on which to enter a Schedule A deduction would be Line 16 and the IRS instructions limit the deductions on that line to those listed below.

 

  • Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, and raffle tickets), but only to the extent of gambling winnings reported on Schedule 1 (Form 1040 or 1040-SR), line 8.

  • Casualty and theft losses of income-producing property from Form 4684, lines 32 and 38b, or Form 4797, line 18a.

  • Federal estate tax on income in respect of a decedent.

  • A deduction for amortizable bond premium (for example, a deduction allowed for a bond premium carryforward or a deduction for amortizable bond premium on bonds acquired before October 23, 1986).

  • An ordinary loss attributable to a contingent payment debt instrument or an inflation-indexed debt instrument (for example, a Treasury Inflation-Protected Security).

  • Deduction for repayment of amounts under a claim of right if over $3,000. 

  • Certain unrecovered investment in a pension.

  • Impairment-related work expenses of a disabled person.

See https://www.irs.gov/instructions/i1040sca#idm140577498784400

 

 

If your CPA is insistent that the expense is deductible on Line 16 of Schedule A but it does not fit into one of the enumerated categories (perhaps it is deductible as a Section 212 expense), then you can enter that expense directly on Schedule A in Forms Mode, which mode is only available in the desktop products, not in the online versions.

 

View solution in original post

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