Why the deduction amount in Schedule K-1 box 13 (type K) reduce the tax refund? - 未名空间MITBBS历史存档

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Why the deduction amount in Schedule K-1 box 13 (type K) reduce the tax refund?

Why the deduction amount in Schedule K-1 box 13 (type K) reduce the tax refund?# Stock

y*32017-04-12 07:04

1 楼

When I enter this amount into TurboTax software "Investment Expense" section
, the Federal and State refund amount actually reduced. If it cannot
increase the refund it should be too smaller than 2% of your AGI, but how
come this deduction amount reduce the refund? Anyone has any idea? Thanks.

y*32017-04-12 07:04

2 楼

This year TurboTax does not support import Schedule K-1, I have to manually
enter every details. Here is the description:
Line 13K - Deductions - Portfolio (2% Floor) - Amounts reported in Box 13,
Code K represent a taxpayer's share of portfolio deductions that are subject
to the 2% income limitation as a Miscellaneous Deduction on Schedule A (
Form 1040). This amount will automatically carry to Schedule A (Form 1040),
line 23 with a description that it came from this entity.

section

【在 y****3 的大作中提到】

: When I enter this amount into TurboTax software "Investment Expense" section
: , the Federal and State refund amount actually reduced. If it cannot
: increase the refund it should be too smaller than 2% of your AGI, but how
: come this deduction amount reduce the refund? Anyone has any idea? Thanks.