peggysioux5 Posted August 13, 2020 Report Share Posted August 13, 2020 Taxpayer received a Partner K-1 showing an "Other Decrease of $5,000" in L - Partner's Capital Acct Analysis with an explanation of decrease of "Miscellaneous Deduction on Books and Not on Return". I use Drake Software and the only way I can reflect the $5,000 decrease in basis is if I input the $5000 in box 18, code C "nondeductible expenses". However tax preparer did not input anything in box 18. Being the K-1 does not show anything in box 18, I am unsure if there would be an issue if I input the $5000 in box 18 to get the correct basis. How would other tax preparers handle? Peggy Sioux Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted August 13, 2020 Report Share Posted August 13, 2020 Enter as an other decrease to basis. Quote Link to comment Share on other sites More sharing options...
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