Question
Invest in hedge fund trading 1256 contracts. Got K1 with investment expenses. Fund tax auditor says fee can be deducted in schedule E page 2. How do I enter this?
Quoting a statement from the fund tax professional.
Please note that trader expenses are deductible on schedule E page 2. A fund that turns over its portfolio a lot in one calendar year or is trading on most days during the year may be recognized as a trader fund, which allows for the expenses to be considered deductible.
How do I do this?
