Solved
I have a letter from a limited partnership that instructs me to enter a number on form 1040 schedule A line 23. How do i do that?
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Ok Schedule A line 23 is for investment expenses.
Federal Taxes
Deductions and Credits
Then scroll down to Retirement and Investments
Other Investment Expenses - Click the Start or Update button
But it's usually not worth even putting in. It is a Misc Deduction and only the amount OVER 2% of your AGI is deductible. And then all your deductions have to be more than the Standard Deduction to give you any benefit.
For example, you make $20,000 AGI. Only the amount over $400 (20,000 x .02) would even be deductible. And that's only for 20,000 AGI. For like 50,000 AGI only the amount over $1,000 would be deductible.
Federal Taxes
Deductions and Credits
Then scroll down to Retirement and Investments
Other Investment Expenses - Click the Start or Update button
But it's usually not worth even putting in. It is a Misc Deduction and only the amount OVER 2% of your AGI is deductible. And then all your deductions have to be more than the Standard Deduction to give you any benefit.
For example, you make $20,000 AGI. Only the amount over $400 (20,000 x .02) would even be deductible. And that's only for 20,000 AGI. For like 50,000 AGI only the amount over $1,000 would be deductible.
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