K-1 question

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  • nalawson
    Member
    • Mar 2008
    • 51
    #1

    K-1 question

    I have a client with a K-1 and in box 13, other deductions, for code W there is detail for an amortization amount and depreciation amount. Do I need to take those numbers to 4562? Also, the partnership is located in a different state than my clients and a State K-1 is included in the information. Do I need to file a state return for that K-1?
    Thanks for any input.
    Tags: None
    • JG EA
      Senior Member
      • Jul 2005
      • 2176
      #2
      Originally posted by nalawson
      I have a client with a K-1 and in box 13, other deductions, for code W there is detail for an amortization amount and depreciation amount. Do I need to take those numbers to 4562? Also, the partnership is located in a different state than my clients and a State K-1 is included in the information. Do I need to file a state return for that K-1?
      Thanks for any input.
      Partnership? Is the W explanation for just the state? If so, perhaps it is just a state adjustment. I just enter on the state "Form K-1" and the amount.
      Whether you file in another state or not depends on the filing requirements of the state involved. If you have other state software, you could try filing and see if it makes a difference and if not ....
      JG

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        • nalawson
          Member
          • Mar 2008
          • 51
          #3
          no, the W detail is for the fed K-1. Is it okay to just leave the total amount as misc deductions without carrying the numbers to any other form?

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