K1 lines 11 and 13; code ZZ

Forum|Forum|1 year ago
April 8, 2025
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My K1 shows operating expenses under code ZZ; it also shows management fees in line 13 under code ZZ. The K1 instructions from the investment company say to enter these deductions directly onto schedule E, line 28, column H. However, I can't get turbotax to take me to that form. Can you help?

PatriciaV

Employee

To make these entries, you must be using TurboTax Desktop.

In TurboTax for Desktop, go to Forms Mode and open "K1 Partner" for the related investment.

Scroll down to Line 11 and click the QuickZoom link just above Line 12.
This opens K1P Addl Info.
Scroll down to Box 11 Code I, L to R, and ZZ: Other Income, line 1 - Other nonpassive income (loss) to be reported on Schedule E page 2.
Enter a custom description on the yellow line and the amount in the yellow box. Your entries here will appear on Schedule E page 2.
Scroll down to Box 13 Code WW to ZZ, line 6 - Other nonpassive income (loss) to be reported on Schedule E page 2.
Enter a custom description on the yellow line and the amount in the yellow box. Your entries here will appear on Schedule E page 2.
When you are finished, click Step-by-Step in the header to go back to your return.

If you need to switch from TurboTax Online to TurboTax Desktop, see How do I switch from TurboTax Online to the TurboTax software?

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bastallerAuthor

Thanks; I have the online version and don’t really want to convert over to desktop; I hope that by next tax season there will also be a solution for online users.

PatriciaV

Employee

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