K-1 Box 13 Code D

Forum|Forum|2 years ago
March 28, 2024
1 reply
0 views

The code to support K-1s with Code D in Box 13 was just released today.

To my surprise, though, my simple tax return now has numerous errors, all of which on the "Schedule A Line 17 Noncash Contributions Worksheet".

I'm being asked to provide numerous details that are not included on the K-1, such as the name and tax ID number of the charity receiving the noncash contribution, the appraisal method, the appraiser name and address, etc.

This is puzzling to me, because when I read the IRS Schedule K-1 (Form 1065) instructions, the section pertaining to Box 13 Code D simply says "Report this amount, subject to the 30% AGI limitation, on Schedule A (Form 1040), line 12."

Box 13 Code C has a long set of instructions, and it is apparent that you will need access to all sorts of supplemental information from the partnership's tax return in certain cases.

But Box 13 Code D is very simple and clean -- at least according to the published instructions, you shouldn't need it.

Is it possible this is a bug? It seems like "Code D" is being treated just the same as "Code C", when it should be different.

Mike9241

after entering 13D, then click on continue. Do you see another screen that asks for more info about the charity? if not, close the return, then reopen it and go to the K-1 section for that partnership. click continue on the screen where you enter 13D you should now see a screen asking for the charity's name

fxfAuthor

Yes, but the advice I'm getting from my partner's tax preparers (and the 2023 K-1 instructions) is that a form 8283 is not necessary when a partner's K-1 contains code D in box 13. All of this information has already been reported on the partnership's tax filing.

fxfAuthor

The 2023 K-1 Instructions are quite clear on what to do with code D. Amounts associated with this code should *not* appear on form 8283. That's for code C. Here is the relevant section of the instructions:

"Code D. Noncash contributions (30%). Report this amount, subject to the 30% AGI limitation, on Schedule A
(Form 1040), line 12."

Is there a way to report this to the developers as a bug?