Where should I enter portfolio deduction subject to 2% from a K-1 in the 2018 individual tax module? Is this considered non-deductible exp & reduce tax basis?

[itonewbie · Accepted solution]

Not deductible for federal tax purposes.  It's an expense, nonetheless, and will reduce cost basis.

Do you have a state return that allows itemized deduction which either does not conform to the IRC or has decoupled from TCJA?