On my Blackstone K-1 is the following Note:
The amount of Line 13H is derived from 2 activities
- The amount derived from trade of business activities is ...$27
- The amount derived from investment activities is ...$6
I'm not seeing how to handle these in EASY STEP process, do I need to go to FORMS? If either case, an explanation of where and how to enter these into TT would be so helpful!
Thank you.
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the info supplied with the k-1 does not clarify how to handle this.
here's my read though it could be wrong
enter the total on line 13H
if you can't itemize the deduction will go nowhere
for r certain individuals there is a 3.8% tax on net investment income - i think the $27 would not be a deduction against this because it is from a trade or business but the $6 would be
again this is a guess. you can try calling Blackstone's investor relations department - but don't expect them to give you an answer other than to consult your tax advisor.
the question I would have is if its from a trade or business why is it on line 13H rather than netted against line 1. you may have better luck than I did.
Thanks for the ideas. Will consult with TT specialist and then may have to go to CPA.
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