Hello,
My business's CPA gave me a Schedule K-1 with a completed 7203. The CPA's 7203 includes a figure for line 13. Turbotax, however, will not allow me to enter that information in line 13. As a result, my lines 14 and 15 are calculated wrong.
Line 13 in my scenario should be 1,411. This was entered on line 16 (C) on the K1. Also, on the bottom of my K1, I have the following listed:
NONDEDUCTIBLE EXPENSESTOTAL OTHER DECREASES FROM STOCK BASIS, LINE 13AMOUNT 1,411
How do I get line 13 of my 7203 to properly account for this 1,411?
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I apparently figured this out last year when I did my taxes (I just opened my 23' file). For those of you having this issue, you can enter it in Section F and put in the text NONDEDUCTABLE EXPENSES and put the amount in.
I apparently figured this out last year when I did my taxes (I just opened my 23' file). For those of you having this issue, you can enter it in Section F and put in the text NONDEDUCTABLE EXPENSES and put the amount in.
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