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February 26, 2021
Question

Manually enter Real Estate Taxes from K1 to personal tax return

  • February 26, 2021
  • 1 reply
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My 3 sisters and I are in a partnership, we share a lake house.  We inherited this lake house when our mother died.  We do NOT rent the house out.  Our Accountant filed the tax return for the partnership and we each got K-1s. 

 

On the K-1, box 13, code W is Real Estate taxes.  When I enter the K-1 into Turbo Tax, there is a message on the form Schedule K-1 (Form 1065)) that states:  * Manually enter item here and on appropriate tax form or schedule. 

 

My question is:  what is the "appropriate tax form or schedule"?  Do I enter it on Schedule A, Property Taxes, Additional Homes or Land?

 

Thank You.

Debbie Ott

    1 reply

    February 26, 2021

    Yes - Enter the real estate taxes on your lake house in the box for Additional Homes or Land.