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bubuset
Employee
April 10, 2022
Question

Problems with K-1 line 13w

  • April 10, 2022
  • 1 reply
  • 0 views

Hello,
 
I received a massive K-1/K-3 from a hedge fund, and I think TurboTax (using Premier Desktop) is overall not very equipped to handle it. I have a few listed under line 13w:

 

OTHER TRADE OR BUSINESS EXPENSE
DEDUCTIONS - PORTFOLIO

 

The only option I have to get these automatically counted by TurboTax is to lump them under the "Nonpassive Deductions to be reported on Schedule E, page 2", otherwise they just get listed but never used. I do not know if this is legal.

    1 reply

    PatriciaV
    PatriciaV
    Employee
    April 11, 2022

    Yes, reporting these items as other deductions is appropriate. As long as you include them on Schedule E, you should be fine.

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