I have a K-1. My K-1 Box 13 Other Deductions has two items
Code H - Investment interest expense for $89
I enter these codes and numbers on TT K-1 Box 13. As soon as I add Code AE to Box 13, Turbotax adds an additional form K1P Addl Info. The K1P Addl Info has an error field as it wants info on the $344 Code AE entry on the K-1.
Problem: The K1P K1P Addl Info Box 13 only supports adding information for Codes J, R, W to ZZ. It doesn't allow for Code AE. Is this a bug? How do I handle this situation?
Thanks
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You can make a manual entry of Box 13 Code AE on the Additional Info form on Line 8 under "Code W to ZZ."
Note that Code AE is for portfolio deductions - in most cases, this type of deduction from investing activities is non-deductible for certain taxpayers, including individuals, and would instead reduce your tax basis in the partnership.
You can make a manual entry of Box 13 Code AE on the Additional Info form on Line 8 under "Code W to ZZ."
Note that Code AE is for portfolio deductions - in most cases, this type of deduction from investing activities is non-deductible for certain taxpayers, including individuals, and would instead reduce your tax basis in the partnership.
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